OECD rules will hurt cross-border funds, forum told

New draft OECD rules designed to combat Base Erosion and Profit Sharing (Beps) could have dire unintended consequences for cross-border funds, warned Roger Exwood, head of product tax for EMEA at Blackrock Investment Management (UK). Speaking at the recent conference hosted by the Association of the Luxembourg Fund Industry (Alfi), Exwood noted that removing tax benefits for cross-border funds jeopardised the principle of tax neutrality between direct and indirect investing via co…