Debevoise & Plimpton LLP today announced the launch of a new information sharing platform designed to help multinational corporations and investment managers understand the compliance and reporting complexities associated with the OECD’s Base Erosion and Profit Sharing (BEPS) initiative. The site can be accessed here.
BEPS endeavours to fundamentally change the global tax landscape through a series of 15 action plans. The breadth, complexity and jurisdictional scope of the BEPS project means that, for many, the task of navigating the proposals is daunting. In response, Debevoise has launched an online platform that hosts the firm’s latest thinking and insight on BEPS. The site is designed to offer practical advice and is presented in an engaging and easy-to-understand format. Features include animated overviews of the key action plans, an implementation tracker, key definitions, a series of short briefings and additional content produced by Debevoise tax lawyers across its international network of offices. The site is designed to be organic and will have regular new content added.
Peter Furci, co-chair of Debevoise’s global tax practice, comments: “BEPS is one of the most significant global tax projects in a generation and its impact will reach beyond that of tax departments, having a practical impact on day to day business operations, financing arrangements and deal structures. Getting a handle on what these impacts will be is tricky; the official BEPS reports alone run into the thousands of pages and that does not take into account the third party commentary that the project has inspired. Debevoise is seeking to do something different; to present BEPS as a commercial issue, in a way that does not require a technical tax background.”
Richard Ward, chair of Debevoise’s UK tax practice, comments: “It is one thing to understand the ins and outs of regulatory change; it is another to translate it in a way that can be applied to individual businesses. That is what this project is about. The OECD and other agencies involved in BEPS have delivered a significant amount of guidance, consultations and statements on how BEPS will play out in practice. Cutting through that material to arrive at relevant, applicable conclusions is our mission, both with this website and in our wider discussions with clients.”
Debevoise’s tax practice has been described by Chambers & Partners as “one of the preeminent tax practices in the world.” It includes more than 40 lawyers who advise on matters in the U.S., Europe, Asia, Latin America and Africa. Fluent in domestic and international issues alike, and well-connected with a network of local practitioners, the Group excels at cross-border transactions and multi-jurisdictional tax planning.
Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.