This initiative was officially launched today on the side-lines of the 3rd International Conference on Financing for Development as a partnership between the OECD and UNDP. The objective of this project is to enable the transfer of tax audit knowledge and skills to tax administrations in developing countries through a real time, “learning by doing” approach.
The Convention was developed jointly by the Council of Europe and the OECD to promote international co-operation for a better operation of national tax laws, while respecting the fundamental rights of taxpayers.
After 18 months of hard work, we are now in the decisive stages of the G20/OECD BEPS Project. Your leadership is therefore essential at this point in time, to send a strong message for our officials to reach a principle-based agreement on measures that will effectively attack the loopholes which have allowed base erosion and profit shifting practices to take hold in the past.
The OECD base erosion and profit shifting project is looking at whether and why MNEs taxable profits are being allocated to locations different from those where the actual business activity takes place.
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This report consists of two parts. Part I is a report by the OECD Secretary-General regarding (A) the OECD/G20 Base Erosion and Profit Shifting (BEPS) Project; (B) Tax transparency through information exchange; and (C) Tax and Development. Part II is a Progress Report to the G20 by the Global Forum on Transparency and Exchange of Information for Tax Purposes.
The Secretary-General's report to the G20 Finance Ministers sets out the most recent advances in the BEPS Project as well as OECD work to support developing countries establish a stronger basis to finance development through the tax system, and our global efforts to tackle tax evasion.
The agreed mandate authorises the formation of an ad-hoc negotiating group, open to participation from all states. The group will be hosted by the OECD and will hold its first meeting by July 2015, with an aim to conclude drafting by 31 December 2016.
Statement made by the Secretary-General during session 2 of the Leader's Summit in Brisbane.
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This report by the OECD Secretary-General includes a first part on the G20/OECD Base Erosion and Profit Shifting (BEPS) Project, the single global common standard on Automatic Exchange of Information (AEOI) and Tax and Development. The second part is a Progress Report by the Global Forum on Transparency and Exchange of Information for Tax Purposes.
In September the OECD presented its first package of recommendations to the G20 for an international approach to stopping artificial tax base erosion and profit shifting. Seven recommendations were proposed as part of the 15-point BEPS Action Plan.