Skip to Main Content
 

Peter Barnes Comments on BEPS ‘Master File' Requirements Raising Concern

October 9, 2015, Bloomberg BNA's Daily Tax Report
Bloomberg BNA's Daily Tax Report spoke with Peter A. Barnes concerning the new country-by-country reporting templates arising from the OECD's recent tax avoidance project.  The  project includes a requirement to produce a master file which may cause issues among large multinationals involving the public disclosure of their sensitive information.   To get the complete article, please visit Bloomberg BNA's website (subscription required).
 
Excerpt taken from the article.
 
"If taxpayers are as forthcoming in their master file as governments want them to be, then there will be relatively sensitive information there, because they'll talk at length about their global supply chain," said Peter Barnes, a professor at Duke University School of Law and of counsel at Caplin & Drysdale Chartered, speaking with Bloomberg BNA Oct. 8.
 
. . .
 
Breaches through the treaty network are considered not only a breach of corporate confidentiality, but a violation of the U.S. government's trust as well, Barnes noted.
 
"I'd rather be able to talk about my confidentiality concerns with a government, having the U.S. government by my side," Barnes said.

________________________________________________

About Caplin & Drysdale
Having celebrated our 50th Anniversary in 2014, Caplin & Drysdale continues to be a leading provider of tax, tax controversy, and litigation legal services to corporations, individuals, and nonprofits throughout the United States and around the world. We are also privileged to serve as legal advisors to accounting firms, financial institutions, law firms, and other professional services organizations.

The firm's reputation over the years has earned us the trust and respect of clients, industry peers, and government agencies. Moreover, clients rely on our broad knowledge of the law and our keen insights into their business concerns and personal interests. Our lawyers' strong tactical and problem-solving skills - combined with substantial experience handling a variety of complex, high stakes, matters in a boutique environment - make us one the nation's most distinctive law firms.

With offices in New York City and Washington, D.C., Caplin & Drysdale's core practice areas include:

-Bankruptcy
-Business, Investment & Transactional Tax
-Complex Litigation
-Corporate Law
-Employee Benefits
-Exempt Organizations
-International Tax
-Political Law
-Private Client
-Tax Controversies
-Tax Litigation
-White Collar Defense

For more information, please visit us at www.caplindrysdale.com.

Washington, DC Office:
One Thomas Circle, NW
Suite 1100
Washington, DC 20005
202.862.5000
        New York, NY Office:
600 Lexington Avenue
21st Floor 
New York, NY 10022
212.379.6000

___________________________

Disclaimer
This communication does not provide legal advice, nor does it create an attorney-client relationship with you or any other reader. If you require legal guidance in any specific situation, you should engage a qualified lawyer for that purpose. Prior results do not guarantee a similar outcome.

Attorney Advertising
It is possible that under the laws, rules, or regulations of certain jurisdictions, this may be construed as an advertisement or solicitation.

© 2017 Caplin & Drysdale, Chartered
All Rights Reserved.

Related Professionals

Related Practices