Senior government officials from the United States, the United Kingdom, Australia, and Canada, participating in a roundtable on the OECD's base erosion and profit-shifting project November 30 at the 66th annual conference of the Canadian Taxation Foundation in Vancouver, British Columbia, seemed to agree that despite the somewhat uneven movement on other BEPS action items, implementation of the country-by-country reporting template is inevitable.
BEPS is not perfect, and we all know it. But international cooperation on tax is vital, and we also know that. Country-by-country reporting has become symbolic of progress on the issue of tackling multinational corporation tax abuse. That is why undermining it is so serious.
I sincerely hope Tax Notes International are right on this one.