BEPS Inclusive Framework Meeting Held In Georgia

by Ulrika Lomas, Tax-News.com, Brussels

17 April 2017

50 delegates from 14 countries gathered in Georgia on April 7, 2017, to participate in the second regional meeting for the Eastern Europe and Central Asia region under the OECD's new inclusive base erosion and profit shifting project framework.

The framework was announced by the OECD in February 2016 to allow all interested jurisdictions to participate in the implementation process of the BEPS project. They will work on an equal footing with the OECD and Group of Twenty nations on the remaining standard-setting under the BEPS project, as well as the peer review and monitoring process.

At the meeting, participants discussed progress towards implementation of the minimum standards, with a specific focus on peer review. The work on toolkits, designed to help low-income countries, was extensively considered, together with the capacity-building initiatives currently in place or under development to address less developed countries' needs.

Representatives were also provided an update on work on transfer pricing and improving tax treaties.

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