The primary aims of the BEPS project are to ensure that profits are taxed in the location where the actual economic activity takes place, to prevent aggressive tax planning and to avoid international non-taxation. A level playing field should thereby be established between the business locations. The first results of the BEPS project are expected in September 2014, and the work as a whole is likely to end at the OECD level by December 2015.
Efforts to combat tax evasion are one of the priorities of the Organisation for Economic Co-operation and Development (OECD). As an OECD member, Switzerland is also committed to this objective. The global standard for the automatic exchange of information will be finalised in the OECD in the next few months. The parties emphasised that the standard has to be based on reciprocity, that data protection must be taken into account and that the beneficial owners of financial constructs must be identified.
Other topics of discussion were the Global Forum on Transparency and Exchange of Information for Tax Purposes and international aspects of value added tax.
Address for enquiries:Mario Tuor, Communications, State Secretariat for International Financial Matters (SIF)
Tel.: 41 31 322 46 16, email@example.com
Federal Department of Finance Internet: http://www.efd.admin.ch