{"id":21669,"date":"2013-07-20T10:39:32","date_gmt":"2013-07-20T09:39:32","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=21669"},"modified":"2013-07-20T10:39:32","modified_gmt":"2013-07-20T09:39:32","slug":"beps-reaction-deloitte-reveal-their-paranoia-about-accountability","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2013\/07\/20\/beps-reaction-deloitte-reveal-their-paranoia-about-accountability\/","title":{"rendered":"BEPS reaction &#8211; Deloitte reveal their paranoia about accountability"},"content":{"rendered":"<p>I was\u00a0amused\u00a0<a href=\"http:\/\/www.deloitte.com\/view\/en_GX\/global\/services\/tax\/cross-border-tax\/international-tax\/1137f8684e7ff310VgnVCM2000003356f70aRCRD.htm#.UepYPD7TXsd\" target=\"_blank\">by the Deloitte reaction<\/a> to the OECD's\u00a0Base Erosion and Profits Shifting report. In it they say - with direct reference to plans for\u00a0country-by-country reporting\u00a0implicit\u00a0in the BEPS proposal:<\/p>\n<blockquote><p>Companies should prepare for the changes proposed to transfer pricing documentation. There appears to be a wide-ranging agreement amongst countries that a high-level map of profits and taxation would help with risk assessment. Businesses\u2013and countries\u2013are aware of the potential dangers, such as the possible misuse of confidential information, and finding safeguards will no doubt be part of the action plan.<\/p><\/blockquote>\n<p>Oh no! Heavens above that information about what a\u00a0multinational corporation does in a country might be found out and its super-normal profits earned from\u00a0exploiting\u00a0secrecy - whether within the market or by undertaking tax abuse - be prejudiced as a result.<\/p>\n<p>Since this appears to be one of the highlights of BEPS for Deloitte I think we can safely say that\u00a0country-by-country reporting looks to be at the heart of tax debate over the next couple of years or so. And I suspect Deloitte are going to be\u00a0disappointed\u00a0by the outcome because this is one issue where the\u00a0political\u00a0debate appears to have already been won.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I was\u00a0amused\u00a0by the Deloitte reaction to the OECD&#8217;s\u00a0Base Erosion and Profits Shifting report. In it they say &#8211; with direct reference to plans for\u00a0country-by-country reporting\u00a0implicit\u00a0in<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2013\/07\/20\/beps-reaction-deloitte-reveal-their-paranoia-about-accountability\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[79,59,78],"tags":[],"class_list":["post-21669","post","type-post","status-publish","format-standard","hentry","category-country-by-country","category-deloittes","category-oecd"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/21669","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=21669"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/21669\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=21669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=21669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=21669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}