BEPS: let the changes begin

BEPS: let the changes begin

BEPS has many and various implications for fund directors, as The NED has mentioned on a number of occasions. But as BEPS’ MLI (Multilateral Instrument) has now been officially signed off this OECD led initiative moves from theory into practice. As a result IFI Global hosted a debate in London on BEPS to discuss its implications for alternative fund industry – especially for directors of these funds.

Speaking at this event were:  Adam Blakemore, Tax Partner, Cadwalader; Jo Huxtable, Partner, Deloitte Guernsey; Robert Mellor, UK Asset Management Tax Leader, PwC and Elliot Refson, a Director at Crestbridge.

‘Everything is changing; it’s like a big renovation of your house’, said Adam Blakemore.  ‘We have got used to the architecture of industry, like your house, and expecting it will always be the same. But BEPS means that this will no longer be the case.’

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