More and more disputes are expected to be triggered by the way BEPS is working its way into local tax rules and regulations. Often BEPS concepts are applied to current open years by tax authorities, which could even include open years prior to BEPS. The absence of sound and functioning international dispute resolution mechanisms on tax matters raises the fear of double, triple and quadruple taxation of multinationals’ profits these days. The GTC team is available to multinationals as well as tax professionals, who may lack the deep knowledge on international tax controversy or simply do not have a local and regional expertise available on running such a complex process.
Professionals are recommended to:
- Be fully trained on all international tax and BEPS related matters;
- Be pro-active in their communication with their stakeholders on keeping ‘taxes under control’;
- Discuss the status of implementation of corporate governance on tax with their stakeholders;
- Take an active line of communication with stakeholders on ‘tax risks’, i.e. the approach of ‘hiding tax risks’ is not in line with today’s ‘best practices’;
- Make pre-assessments of tax risks, before filing any tax documents and reports with the tax authorities;