Joint position paper on OECD BEPS Action Plan

On 30 July 2015, Insurance Europe and the Pan European Insurance Forum jointly published a position paper. The paper summarises the views of the European insurance industry regarding the proposals of the Organisation for Economic Co-operation and Development (OECD) in its draft versions of its Action Plan on Base Erosion and Profit Shifting (BEPS). The draft Action Plan aims to address weakness in the international tax environment. The paper notes that, while the industry supports the aims of the Action Plan, concerns remain that the unique nature of insurers’ business models are not fully taken into account.