Thomson Reuters has released two tax research products to help multinational companies deal with the proposed changes in global tax regulation envisioned in the Organization of Economic Cooperation and Development’s Base Erosion and Profit Shifting Action Plan.

The OECD unveiled a blueprint last week for combating corporate tax avoidance as part of the BEPS Action Plan (see OECD Proposal Could Curb Tax Loopholes Favored by Google, Apple). The proposals could erode the ability of multinational companies to use tax strategies such as transfer pricing in the future.

BEPS Global Currents from Thomson Reuters Checkpoint provides tax professionals with news, analysis and reference materials covering the latest BEPS Action Plan developments. A customizable dashboard delivers information on implementation activities across all 15 BEPS action items for 47 countries.The product allows users to stay up to date on the latest news via a daily email newsfeed, updated summaries for each country and topic, and white papers providing additional in-depth analysis.

Checkpoint BEPS Global Currents also includes primary source documents such as the BEPS action items and related documents, domestic legislation, cross-border agreements, official announcements, speeches and more.

BEPS Action Manager from Thomson Reuters ONESOURCE enables corporate tax departments to meet all of the new global transfer pricing documentation requirements resulting from Action 13 of the BEPS Action Plan. It does this by providing data management, entity charting, document storage, reporting, and analytics in one solution.

The product also eliminates the manual manipulation of data and reduces the risk of error by allowing the collection of information from multiple data sources while enabling users to address discrepancies by easily identifying outliers. ONESOURCE BEPS Action Manager performs the country-by-country reporting with up-to-date templates by jurisdiction and enables MNCs to respond proactively to new regulation by providing research data on the legislative landscape.

“Global regulatory requirements stemming from the BEPS plan will be extraordinarily challenging for companies,” said Brian Peccarelli, president of the Tax & Accounting business of Thomson Reuters, in a statement. “Thomson Reuters BEPS solutions equip corporate tax professionals with the knowledge and technology to confidently comply with new rules and deadlines.”

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