The international tax world is in the midst of profound change. The basis of this transformation is the Base Erosion and Profit Shifting (BEPS) Action Plan set forth by the OECD in 2013 that aims to close gaps in international taxation and end corporate tax avoidance. As countries around the world enact legislation in accordance with these guidelines, multinational corporations (MNCs) are required to report tax data like never before.

Country-by-country (CbC) reporting, as outlined in BEPS Action Item 13, is uncharted territory for MNCs. Together with master and local file reporting, these extensive requirements demand a comprehensive tax technology solution. With the OECD recommending countries adopt this guidance starting in 2016, the time is now for MNCs to take action.

Thomson Reuters ONESOURCE BEPS Action Manager combines research, data management, entity charting, document storage, reporting and analytics in a single solution, guaranteeing worldwide compliance and collaboration in a post-BEPS era.

Overall Benefits:

• Creates a sustainable, repeatable data collection process
  
• Enables global consistency and transparency of data
  
• Documents and reports results to tax authorities
  
• Keeps you up-to-date on new regulations
  
• Reduces the reporting burden
  
• Increases collaboration across departments and geographies