Tax

Ground-breaking multilateral BEPS Convention to be signed at OECD on Wednesday 7 June

 

05/06/2017 - Ministers and high-level officials from more than 60 countries and jurisdictions will sign on Wednesday 7 June, beginning at 6 p.m. (CET), an innovative multilateral convention to reduce the opportunity for tax avoidance by multinational enterprises.

 

The signing ceremony for the  Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS will take place during the annual OECD Week, which brings together government officials and members of civil society from OECD and partner countries for debate on the most pressing social and economic challenges confronting society.

 

Speakers at the signing ceremony will include:

 

  • Mr Angel Gurría, Secretary-General, OECD
  • Dr Wolf­gang Schäu­ble, Fed­er­al Min­is­ter of Fi­nance of Germany, current Chair of G20
  • Mr Arun Jaitley, Minister of Finance, India
  • Mr Birima Mangara, Minister of Budget, Senegal
  • Mr Wang Jun, Commissioner of State Administration of Taxation, People’s Republic of China
  • Mr Ariel Sigal, Vice Minister of Treasury, Argentina
  • Ms Ann Sim, Senior Minister of State, Ministry of Trade and Industry, Singapore
  • Mr Bruno Le Maire, Minister of Economy, France
  • Mr. Mike Williams, Chair of the Ad Hoc Group on the Convention

 

Media must be accredited for OECD Week to observe the signing ceremony. Last-minute accreditation requests should be directed to: PAC.MediaRegistration@oecd.org.

 

The signing ceremony will be webcast live at: https://oecdtv.webtv-solution.com/3827/or/signing_ceremony_multilateral_convention_to_implement_tax_treaty_related_mesures_to_prevent_base_erosion_and_profit_shifting.html

 

The signing ceremony marks a new and important milestone in the international tax agenda, moving closer to the goal of preventing base erosion and profit shifting (BEPS) by multinational enterprises. The new Convention, which is the first multilateral treaty of its kind, will allow jurisdictions to transpose results from the OECD/G20 BEPS Project into their existing networks of bilateral tax treaties. It was developed through a negotiation involving more than 100 countries and jurisdictions, under a mandate delivered by G20 Finance Ministers and Central Bank Governors at their February 2015 meeting.

 

The OECD/G20 BEPS Project delivers solutions for governments to close the gaps in existing international rules that allow corporate profits to « disappear » or be artificially shifted to low or no tax environments, where companies have little or no economic activity. Revenue losses from BEPS are conservatively estimated at USD 100-240 billion annually, or the equivalent of 4-10% of global corporate income tax revenues.

 

Photos of the signing ceremony, including those of individual ministers, will be posted on the OECD Flickr site. We invite media to use these images. Please include the OECD copyright and credit the photographer. For information on photos, please contact Luisa Constanza, in the OECD directorate for public affairs and communications.

 

Audio-visual footage will be taken by an OECD pool cameraman. To acquire this footage, please contact Lawrence Speer in the OECD Media Office or Francois Leonet, in the OECD television studio.

 

Media queries on the signing ceremony should be directed to Pascal Saint-Amans, director of the OECD Centre for Tax Policy and Administration (+33 6 26 30 49 23), or the OECD Media Office (+33  1 45 24 97 00).

 

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