OECD Secretary-General Tax Report to G20 Finance Ministers and Central Bank Governors (Shanghai, China, February 2016)

At the G20 Leaders meeting in Antalya, the OECD delivered the package of measures developed under the G20/OECD Base Erosion and Profit Shifting Project. Those measures, which reflect a comprehensive approach to updating the international tax rules for the 21st century, must now be implemented. In the Antalya Communique, the OECD was mandated to develop an inclusive framework with the involvement of interested non-G20 countries and jurisdictions on an equal footing, committed to implementing the BEPS package of measures. This report sets out an architecture for that framework, proposing the most inclusive approach that would see jurisdictions participating on an equal footing to review the implementation of the BEPS minimum standards, as well as monitor the package as a whole and complete the remaining elements of the BEPS standard-setting work. The framework will be built by extending the BEPS Associate status in the OECD’s Committee on Fiscal Affairs to all interested and committed countries and jurisdictions, bringing them on an equal footing with the G20 and OECD countries, on both the BEPS standard setting and BEPS implementation monitoring. Moreover, jurisdictions that have decided not to commit but which are relevant for ensuring a level-playing field in tackling BEPS issues globally, would be subject to review.