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OECD Updates G20 On BEPS Implementation

by Ulrika Lomas, Tax-News.com, Brussels

07 September 2016


The Organisation for Economic Co-operation and Development (OECD) has briefed the Group of Twenty (G20) leaders on recent advances made by the OECD in the area of international tax law.

In a report released at the G-20 Finance Ministers and Central Bank Governors' meeting held on September 4-5, 2016, in Hangzhou, China, the OECD told G20 leaders that 85 countries have already committed to implementing the base erosion and profit shifting (BEPS) package and have joined the new inclusive framework, with key international and regional organizations participating as observers. The OECD pointed out that the new framework "will be instrumental in turning the BEPS package into reality and establishing a level-playing field as we move forward."

The report states that an unprecedented range of initiatives were launched this year in support of domestic resource mobilization, reflecting the growing importance of capacity building and global inclusiveness in the international tax agenda.

The report states: "From the OECD-UN Development Programme partnership on Tax Inspectors Without Borders, which became fully operational this year, to the establishment of the Platform for Collaboration on Tax between the OECD, International Monetary Fund, World Bank Group, and the United Nations, the attainment of the Sustainable Development Goals have remained at the heart of our work. Across the key issues of BEPS and tax transparency, developing countries are integral partners in driving the agenda forward."

The OECD noted that "the extraordinary progress made to counter tax avoidance would not have been possible without the strong and consistent political support of the G20 leaders."

TAGS: compliance | tax | investment | business | tax compliance | tax avoidance | interest | law | Organisation for Economic Co-operation and Development (OECD) | United Nations (UN) | enforcement | agreements | multinationals | tax planning | transfer pricing | G20 | tax reform | trade | European Union (EU) | Europe | Tax | BEPS

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