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A major milestone was reached in October 2015 with the OECD publishing reports on all 15 Actions under its Base Erosion and Profit Shifting (BEPS) initiative. With countries already taking steps to implement some of the BEPS Actions, the European Commission is pursuing its own anti-tax avoidance agenda, in some cases going further than the OECD and leaving EU Member States now facing uncertain obligations.

The Anti-Tax Avoidance Directive (ATAD) needs unanimous agreement from all 28 Member States to become law and the Netherlands, which holds the rotating presidency of the EU until the end of June, has put forward several changes to the original draft that was published at the end of January.

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