OECD has issued on 13 March 2013 a report in which this institution alerts tax authorities worldwide of the potential for aggressive tax planning (ATP) in situations where taxpayers factor in the tax effect of hedging transactions (“after-tax hedging”). The report, entitled “Aggressive Tax Planning based on After-Tax Hedging,” describes the features of ATP schemes, the challenges arising from such schemes and the tools that can be used by governments to detect and respond to ATP schemes.