The OECD/G20 BEPS Project provides governments with solutions for modernising international tax rules.
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IMPLEMENTING THE BEPS PACKAGE: ESTABLISHMENT OF AN INCLUSIVE FRAMEWORK
The OECD has agreed a new framework that will allow all interested countries and jurisdictions to work jointly for the implementation of the package of measures against BEPS. This framework will bring together all interested countries and jurisdictions as Associates on an equal footing with OECD and G20 countries in the OECD’s Committee on Fiscal Affairs to develop international standards related to BEPS and to review and monitor the implementation of the whole BEPS package.
The proposal for broadening participation in the OECD/G20 BEPS Project was endorsed by the G20 Finance Ministers at their meeting on 26-27 February in Shanghai, China and was welcomed by the G20 Finance Ministers and Central Bank Governors at their meeting on 14-15 April 2016 in Washington D.C.
All interested countries and jurisdictions, including developing economies, can now express their interest in joining this inclusive framework. The first meeting of the Committee on Fiscal Affairs including the new Associates will be held in Kyoto, Japan, on 30 June and 1 July 2016.
DEVELOPING COUNTRIES & BEPS
Engagement has been extensive since the beginning of the BEPS Project. Over 80 developing countries and other non-OECD/non-G20 economies have participated directly in the technical working groups and shaped the outcomes through regional consultations and thematic global fora.
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The 15 BEPS Actions equip governments with domestic and international instruments to address tax avoidance and ensure that profits are taxed where economic activities generating the profits are performed and where value is created.