Insurance Europe comments on Base Erosion and Profit shifting proposals

On 9 February 2015, Insurance Europe published its comments on the discussion draft on action point 4 of the Base Erosion and Profit Shifting (BEPS) Action Plan published by the Organisation for Economic Cooperation and Development (OECD) in December 2014. The draft aimed to address weakness in the international tax environment. Key points highlighted by Insurance Europe include that existing regulatory requirements already act as an effective limitation for the insurance sector in that regard and its preference is for a blanket exclusion for insurance company interest from the scope of BEPS Action 4.