ALM Intelligence's Finance Management Consulting team spoke with EY's Mike Bertolino, Deputy Global Vice Chair—Tax, and Matthew Mealey, EMEIA International Tax Services Leader, about the evolving implications of the Organization for Economic Co-operation and Development's BEPS (base erosion and profit shifting) initiative for EY's clients. BEPS was born in 2012 out of concern expressed by the G20 that corporations were pursuing "tax planning strategies that exploit gaps in tax rules to artificially shift profits," according to the OECD.
ALM Intelligence: BEPS has already had a legislative impact, in the form of new reporting rules such as those in the UK's Finance Act of 2016. Are your clients anticipating that BEPS will truly harmonize global tax reporting rules, driving down compliance costs for them?
