| Abstract [eng] |
Relevance of the topic: after 2008 global financial crisis, most multinational companies had a considerable attempt to stabilize their financial situation and return to the pre-crisis period. Due to the significant drop in sales and increased costs during the crisis, companies later had to take drastic actions to stay afloat, remain competitive in the market and be economically profitable. However, not all multinational companies have opted for legal, socially and financially responsible solutions. Global corporations such as Apple, Amazon and Starbucks have been widely curated in the global media for implementing millions of tax avoidance strategies to reduce tax liability and thus maximize profits. According to the OECD, corporate tax avoidance strategies cost the world's public budgets more than 240 billion USD a year, for state operations. For this reason, the OECD, together with the G20, has developed a BEPS Action Plan to prevent tax avoidance practices in response to global tax avoidance. The aim of this action plan is to close as many loopholes and inconsistencies in the tax systems of the world's countries as possible, and to ensure that fair and equitable corporate tax is calculated and reported in the countries in which it operates. Object of the thesis: impact of BEPS Action Plan on corporate income tax. The aim of the thesis: to investigate the impact of BEPS Action Plan on the payment of fair corporate income tax. The main results of the project: The analysis of the research showed that the BEPS Action Plan was developed at a time when tax avoidance activities by multinational companies were being heard around the world. According to the OECD, the tax avoidance practices of multinational companies cost the world's nations hundreds of billions of dollars each year to ensure their operations. The BEPS Action Plan initiative divided authors into two groups, one of which was a significant project to strengthen tax systems and ensure fair corporate tax payments, while others saw this as a political initiative that would always remain at the planning stage due to tax havens and the reluctance of other low-tax countries involvment. Multinational companies such as Apple, Amazon and Starbucks have been found to have engaged in various tax avoidance activities not only after the 2008 global financial crisis, but also in later periods, when the BEPS Action Plan was already in place, making it clear that the initiative is needed. It has been identified that the main objective of the BEPS Action Plan is to strengthen international tax systems by closing gaps and inconsistencies and thus ensuring fair financial reporting for multinational companies, thus it means that the BEPS Action Plan is very relevant and actual for fair corporate income tax calculation and payment. It is estimated that the BEPS Action Plan is still in the planning stage in most countries, but actions to renew cross-border agreements and exchange information are already in place in many countries, thus the impact of the BEPS Action Plan is already visible but real results are not yet available, therefore further research is needed to determine the exact impact of the BEPS action plan on the payment of fair income tax. |
