While the OECD will not be issuing any public statements or other public commentary before the release of the final documents, Pascal Saint-Amans, director of the OECD's Centre for Tax Policy and Administration, spoke with Tax Analysts about the meetings of the Committee of Fiscal Affairs and the negotiations in Paris.
Saint-Amans confirmed that the project is still on track, continuing in the direction previously determined by the OECD, and he said he expects no surprises before the G-20 vote.
The U.S. Treasury Department agreed. A senior Treasury official confirmed that the United States is satisfied that when the BEPS project is completed in 2015, there will be some positive outcomes that will protect the U.S. tax base and close some gaps in the international tax rules.
However, the Treasury official noted that while there is consensus on some important issues, much work on challenging issues remains to be done. "We continue to work hard to seek consensus but at the same time ensure that the outcomes are clear, administrable, principled, and not unduly burdensome for business," the official said.
Akhilesh Ranjan, India's competent authority, said various aspects of the project -- particularly the action items concerning transfer pricing and intangibles -- are not fully settled. He said he remains hopeful that OECD member countries will reach an agreement.