Mr. Ed Brophy:

The OECD BEPS process is based on a global agreement. If everyone signed up to it, then obviously there is less opportunity for one country to benefit ahead of the others. That is the nature of the agreement, that it is global. That is why it is so hard to get it agreed. Global agreements, by their nature, create domestic issues. That is the difficulty. The process itself is very sound. If it is agreed globally and implemented across the globe, then I do not think that is an issue. However, there is a way to go yet and we have to see what happens