Nearly two-thirds of corporate tax leaders are skeptical about the two-year timeline set by the Organization for Economic Cooperation and Development for curbing multinational tax avoidance, according to a new survey by KPMG.
The survey of 220 U.S. senior tax professionals found that 64 percent of respondents believe the OECD’s 24-month timetable doesn’t offer adequate time to accomplish the goals of the organization’s Base Erosion and Profit Shifting, or BEPS, initiative, which aims to address how countries tax multinational corporations’ revenues and profits. The poll respondents believe the time is insufficient to address concerns about profit shifting or “double non-taxation” and provide a “level playing field” among tax systems and taxpayers. Only 21 percent were positive on the issue of timing.
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