A quick look at what’s been going on in Europe…

Ireland's Minister for Finance and Public Expenditure and Reform, Paschal Donohoe, has predicted the OECD's base erosion and profit shifting (BEPS) initiative will reduce the country's annual corporation tax receipts by EUR 2 billion a year by 2025, which is equivalent to 2.6 percent of Ireland's total annual tax revenues.

Having been developed since 2013, The BEPS project seeks changes to the international rules on permanent establishment, cross-border taxation, transfer pricing, anti-avoidance and minimum tax rates, with the aim of preventing mu...