Europe's risk managers need to energetically sell the benefits and added value of captives or risk facing problems brought by new international tax rules, according to Ferma.
The federation stated in its latest newsletter that captives, especially those based in offshore domiciles, are under scrutiny from international tax authorities, not least because of the OECD's recommendations on Base Erosion and Profit Shifting (BEPS) published late last year.
"As the financial or tax aspects of captives are increasingly likely to be challenged, risk managers will need to be able to demonstrate the added value of owning a captive to their senior management," stated Ferma. [...]
Ferma points out that since the publication of the BEPS advice, more than 100 countries and jurisdictions have collaborated to implement the 15 actions recommended.
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