Lack of transparency is BEPS project’s big failure, campaigners say

The OECD’s base erosion and profit-shifting project “simply hasn’t delivered” to date, and country-by-country (CbC) reporting has been its “big failure,” a leading tax campaigner said, while a senior HM Revenue & Customs official countered that a belief in transparency does not mean that everything should be published.

Both Tax Justice Network (TJN) Chief Executive Alex Cobham and HMRC Executive Chair Edward Troup spoke December 9 during the global tax transparency summit in London, hosted by the House of Commons Public Accounts Committee.

The introduction of CbC reporting has been handled “so badly that developing countries are now exposed to worse inequalities” in terms of taxing rights, according to a TJN report released December 8.

Read more: My news story for Tax Analysts, 9 December (paywall).