Base Erosion and Profit Shifting (BEPS) refers to tax planning strategies that exploit gaps in tax rules leading to artificially shifting profits to low or no-tax locations where there is little or no economic activity or eroding tax bases through deductible payments. The BEPS measures recommended by OECD are being implemented in 130+ countries which are part of the Inclusive Framework.
Recently, the G20 and Inclusive Framework also endorsed the two-pillar global tax reform that deals with the tax challenges arising from digitalization and introducing a global minimum tax. Our global presence and BEPS compliant services make us well placed to assist family businesses and large international corporates crossing borders.
With a BEPS health test, Amicorp can help identify outdated structures and adapt these to the new international transparency and economic substance drivers while complying with the latest regulatory standards and respecting the business needs.
To keep our clients BEPS compliant, we can also support the multinational structures by migrating entities to another cost-efficient jurisdiction where the economic substance may be available. We look to optimize organization and operations with a simplified and robust structure adapted to the new BEPS rules on governance, substance and good practices.
Our services include:
Assurance: Impact assessment report
- BEPS health test: analysis of the corporate structure, business reasons, and substance identifying impact/risk of the latest changes in regulations, and
- Providing recommendations on improvements of the existing structure or alternative structure solutions.
Improvements: Substance & Governance
- Improve substance: implement Enhanced Corporate Services (ECS) moving towards more corporate robustness and solidness.
- Improve governance: nominate personal directors to the Board and mitigate risks and conflicts of interests with a separation of ownership and management.
Alternative structuring solutions
- Generate business insights and opportunities with strategic planning.
- Find efficiencies in costs, financing alternatives, and processes.
- Establishing investment funds, venture capital, trusts, foundations, and securitization vehicles.
- Support in issuing bonds or listing to stock exchanges.
- Focus on your core business and delegate the non-core to Amicorp Group
- Continuously monitor legislation developments.
- Regular evaluation of the structure if it is tax compliant.
Make a plan for a successful transition to the next generation
- Succession planning.
- Governance planning.
For more detailed information on how to respond to the global BEPS project, and take advantage of Amicorp’s services, please contact an Amicorp office near you or your local Amicorp Account Manager.