The G20 and OECD's Base Erosion and Profit Shifting (BEPS) action plan has been described as 'the first substantial renovation of the international tax rules in almost a century'. The project aims to create a degree of transparency to tax authorities combined with changes to domestic law and double tax treaties that will change the global tax landscape, while presenting large companies with a significant data gathering and data management headache. Data analytics can help. One of the key BEPS changes is the introduction of country-by-country reporting (CBCR) for multinational corporations (MNCs) with turnover in excess of €750m (£600m).
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