Daily Tax Update - September 9, 2016: OECD Releases Public Comments on BEPS Discussion Drafts

OECD Releases Public Comments on BEPS Discussion Drafts:  Yesterday, the Organization for Economic Cooperation and Development (OECD) released the public comments received on its draft guidance relating to profit splits and attribution of profits to permanent establishments.  The drafts were made public in July as a part of the OECD’s and G20’s base erosion profit shifting (BEPS) plan, a multi-country effort seeking to curb multinational corporate tax avoidance.

Law Firm Files Suit Against IRS for Data Relating to Income Stripping Rules:  A suit filed yesterday alleges the IRS improperly withheld data related to the proposed regulations under section 385 (REG-108060-15) requested under the Freedom of Information Act (FOIA).  The controversial rules, released in April (for prior DTU coverage, click here), aim to prevent multinationals from shifting income out of the US to overseas subsidiaries.  The firm that filed suit has not stated how it plans to use the information.