As I said in Antalya, the three ”I”s in taxation in 2016 are about implementation, implementation and implementation. We are delivering today the new inclusive framework to support global BEPS implementation.
Without effective implementation, we risk consigning the BEPS reports to books gathering dust on shelves. That is why your efforts to transform the BEPS agreement into reality – evidenced by your signature of the Multilateral Competent Authority Agreement (MCAA) for the automatic exchange of country‑by-country reports – are so important.
Je me réjouis des solutions proposées par l’Union Européenne pour mettre en œuvre les mesures du projet BEPS qui permettront d’engager de façon concrète les changements du système fiscal international et d’étayer une économie globale plus juste.
Today, Israel becomes the 91st jurisdiction to join the Multilateral Convention on mutual administrative assistance in tax matters. This powerful instrument for cross-border tax assistance has now been signed by all OECD members – an important show of unity in our common fight against tax evasion.
Thanks to your leadership “fair play” will become the name of the game in international tax policies. With the set of agreed measures, the location of the profits of multinationals and where they pay their taxes will be the same as the location of the activities generating these profits, with the aim of reversing revenue losses in the public coffers of up to a quarter trillion US dollars annually.
Yesterday, G20 finance ministers endorsed the set of 15 actions to address base erosion and profit shifting. This is an historical moment.
To tackle these challenges and mitigate their effects, the OECD is working in a wide spectrum of policy areas: anti-bribery, public procurement, lobbying or money laundering. Strengthening the role of internal controls and audit functions is one of our key tools to help combat corruption and fraud.
This new OECD inventory puts the spotlight on almost 800 spending programmes and tax breaks that governments use to encourage the production or use of fossil fuels. These policies are found in both our member countries and in key emerging economies at national, state and provincial levels.
Leveraging off the work being done on the global stage on international taxation, APEC economies will be able to maximise the benefits by tailoring that work to its specific context, and ensuring that it meets your specific needs.
In four weeks when we meet again in Lima, I will deliver the full package of 15 measures to address Base Erosion and Profit Shifting - BEPS. The project is a vivid example of how the G20 in partnership with the OECD has been able to balance the necessity of tax sovereignty with the realities of a globalised economy and rapidly changing business models.