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Developing Countries Meet To Discuss BEPS Push

by Ulrika Lomas, Tax-News.com, Brussels

15 December 2014


Officials from 14 developing countries met on December 10-11, 2014, to maximize the benefits their countries will derive from the Organisation for Economic Cooperation and Development's (OECD's) ongoing work on countering base erosion and profit shifting (BEPS).

Participants from Albania, Azerbaijan, Bangladesh, Croatia, Georgia, Jamaica, Kenya, Morocco, Nigeria, Peru, the Philippines, Senegal, South Africa, Tunisia, Vietnam, and the African Tax Administration Forum (ATAF) discussed their upcoming participation in the Committee on Fiscal Affairs (CFA) and the BEPS technical working groups.

Participants agreed on the pressing need to reform international tax rules "as soon as possible" and considered how to most effectively participate in the upcoming meetings. They also discussed the support they require to ensure effective implementation of the BEPS measures.

Discussions centered on how to ensure that the outcomes of the BEPS Project meet the needs of developing countries. They welcomed the preparation of toolkits in a number of areas of the BEPS Project, which are intended to support developing states implement the measures, and also efforts towards those areas that developing countries have identified as significant, such as wasteful tax incentives and availability of quality comparability data for transfer pricing purposes.

The workshop formed part of the OECD's broader strategy, launched on November 12, for deepening the engagement of developing countries. Raffaele Russo, Head of the BEPS Project, underlined the importance of internal coordination among policy makers and administration officials, the use of central contact points, and the identification of priority actions. This will, in part, be achieved through the creation of five regional networks of tax administration and tax policy officials, to be launched in cooperation with international and regional tax organizations.

Logan Wort, Executive Secretary of the African Tax Administration Forum (ATAF), emphasized the importance of "seizing this opportunity to steer the dialogue," and said he considers that regional tax organizations will be instrumental in that respect.

TAGS: Morocco | South Africa | tax | Niger | Nigeria | tax avoidance | tax incentives | Albania | Jamaica | Philippines | transfer pricing | Azerbaijan | Bangladesh | Georgia | Kenya | Peru | Senegal | Tunisia | Croatia | Vietnam | Africa | Tax

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