Insurance Europe and the Pan European Insurance Forum (PEIF) have published a joint response to proposals put forward in the various discussion drafts published by the Organisation for Economic Co-operation and Development (OECD) as part of its action plan on base erosion and profit shifting (BEPS).

The joint response also relates to a separate initiative by the European Commission - the action plan for A Fair and Efficient Corporate Tax System in the EU - which will also be looking into, among others, revising transfer pricing or permanent establishment rules and implementing country-by-country reporting.

While welcoming some of the proposals, the joint response also highlights a number of concerns.