OECD discussions on reforming
profit shifting cannot be viewed in isolation as EU case law has already
set a number of precedents
As the OECD's Base Erosion and Profit Shifting (BEPS) project
moves forward, we need to consider the influence of the EU and the
European Treaties (the TFEU) on the whole process. The BEPS project
is led by Europe's three largest countries: France, Germany and the
UK, and the view from the US is that it's very much a European project.
Yet control of the project has been handed to the OECD. The
organisation is based in a beautiful French suburb – but it's
not focussed on Europe. All 34 member countries have endorsed the
BEPS project and key non-member countries from the G20 and the BRICS
are participating in the committees.
