US Congressman Charles W. Boustany Jr. (R-La) and Congressman Richard Neal (D-Mass), both senior members of the Ways and Means Committee, released draft legislation that would create an "innovation box regime" in the US tax code.
This Legal Update is the second in a series that
Mayer Brown Tax lawyers are publishing on key
developments at the national and international
levels related to the Organisation for Economic
Co-Operation and Development’s ("OECD")
Action Plan on Base Erosion and Profit Shifting
(the "BEPS Action Plan").
The Organisation for EconomicCoordination and Development released its highly anticipated Action Plan on Base Erosion and Profit Shifting, which was then unanimously approved by the G-20 Finance Ministers at their July 20, 2013 meeting in Moscow.