OECD warns low-tax jurisdictions about meeting economic substance requirements

Pedro Gonçalves
OECD warns low-tax jurisdictions about meeting economic substance requirements

The OECD has issued a warning saying that low tax jurisdictions must prove that they are meeting the new economic substance requirements. The international organisation wants no-tax and nominal-tax jurisdictions tos pontaneously report the activities of resident companies to the jurisdictions in which those companies' ultimate owners are  residents. Under OECD's base erosion and profit shifting (BEPS) action plan, jurisdictions can only maintain preferential tax regimes for businesses w...

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