KPMG Webcast To Address Tax Transparency and OECD Initiative on Base Erosion and Profit Shifting

NEW YORK, June 28, 2013 /PRNewswire/ -- On Tuesday, July 2, from 11 a.m. to noon (ET), KPMG's Tax Governance Institute (TGI) will host a webcast that addresses the implications of tax transparency and the potential impact of the Organisation for Economic Co-operation and Development (OECD) initiative on base erosion and profit shifting (BEPS). Board and audit committee members, CFOs, tax directors and other business professionals interested in attending the program – one in a series of KPMG presentations on this timely topic – can register at: www.taxgovernanceinstitute.com.

The upcoming audio webcast – titled "Tax Transparency and the OECD Initiative on Base Erosion and Profit Shifting: Recent Developments and What Does It Mean For You?" – will focus on the debate over the shift of taxable business income out of the United States and high-tax jurisdictions around the world and into low or no-tax jurisdictions, and the resulting issue of tax base erosion.  The program will look at recent developments on the topic of tax transparency, explore where the debate could lead, and discuss how companies might respond both now and down the road.

• Brett Weaver, tax partner in KPMG's International Corporate Services practice and the firm's partner-in-charge of Tax Transparency, will moderate the webcast that will include panelists:
• Philip Kermode, director of the Directorate-General for Taxation and Customs Union of the European Commission (EC), and
• Manal Corwin, national leader of KPMG's International Corporate Services practice, principal-in-charge of International Tax Policy in the firm's Washington National Tax practice, and former deputy assistant secretary for Tax Policy for International Tax Affairs in the U.S. Treasury Department and U.S. delegate/vice chair to the OECD's Committee on Fiscal Affairs.

"The global debate on tax transparency has sparked both public interest and concerns among many companies, and the spotlight will grow brighter in coming weeks as the OECD prepares to deliver its coordinated action plan on base erosion and profit shifting and the European Commission moves forward with announced plans to address issues around tax fairness," said Weaver, who along with Corwin are members of KPMG's Tax Transparency Steering Committee.

"With potentially significant changes in future tax obligations and reputational risks at stake, senior executives and board members at multinational companies should find this webcast, and those that will follow, especially useful as they formulate how their organizations should respond to the debate and possible outcomes," Weaver added.

Topics to be covered on the July 2 webcast, among others, include:

• Recent developments and anticipated timeline for the BEPS initiative,
• Role and perspective of EC and other stakeholders in moving the BEPS initiative forward, and
• Insights on practical implementation issues related to any proposed OECD guidance.

Future KPMG webcasts will follow the publication of the OECD's Coordinated Action Plan addressing BEPS, expected to be delivered to G-20 Finance Ministers in mid-to-late July.

The anticipated OECD action plan follows on the OECD's report in February on BEPS which responded to growing concerns among both OECD and non-OECD countries about the risks to tax revenues, tax sovereignty, and tax fairness that BEPS behaviors pose, in particular when they result in double non-taxation. Since issuing this report, the OECD's focus on BEPS has been embraced and endorsed by the G-20, the G-8 and the EC.

Part of the KPMG Institute Network (www.kpmginstitutes.com), the Tax Governance Institute (www.taxgovernanceinstitute.com) provides opportunities for board members, corporate management, stakeholders, government representatives and others to share knowledge regarding the identification, oversight, management, and appropriate disclosure of tax risk.

About KPMG LLP

KPMG LLP, the audit, tax and advisory firm (www.us.kpmg.com), is the U.S. member firm of KPMG International Cooperative ("KPMG International").  KPMG International's member firms have 152,000 professionals, including more than 8,600 partners, in 156 countries.

Contact: Robert Nihen/Bridget Carroll
KPMG LLP
201-307-8296/201-505-6501
[email protected]; [email protected]

SOURCE KPMG LLP