Honduras Joins BEPS Inclusive Framework

by Mike Godfrey, Tax-News.com, Washington

23 December 2019

Honduras is the 137th territory to sign up to the BEPS Inclusive Framework.

By joining the Inclusive Framework, Honduras has committed to implementing the four BEPS minimum standards. As such, it must introduce measures to remove any "harmful" tax provisions from its domestic tax regime, amend its tax treaty rules to prevent treaty abuse, implement country-by-country reporting rules and exchange these reports with other countries, and work with other countries to improve cross-border tax dispute resolution mechanisms.

As well as agreeing to implement the minimum standards, members of the Inclusive Framework agree to work together on an equal footing to develop further BEPS measures, commit to participate in peer reviews on BEPS measures' consistent implementation, and pay an annual fee to the OECD. The Inclusive Framework is also supporting the development of toolkits for low-capacity developing countries.

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