This article picks out the main headline points from the report, then runs through the present focus of the OECD’s international tax agenda, and the progress of the Global Forum (on Transparency and Exchange of Information for Tax Purposes), concluding by summarising some of the most recent UK responses to the agenda items.

A number of these matters will inform – and in some respects dictate – the approach to international taxation taken by multinationals and by others engaged in cross-border activities.