viernes, 26 de febrero de 2016

OECD announces agreement on framework for broader participation in BEPS stage two

As we enter the second phase of the OECD-led Base Erosion and Profit Shifting (BEPS) project, the OECD has agreed a new framework that would, if approved, allow all interested countries and jurisdictions to become part of an inclusive dialogue on an equal footing. This dialogue would cover clarifications (and work left to complete on standard setting), implementation and monitoring. It would include, for developing countries, the development and provision of practical toolkits that address the top priority issues they have identified.

The involvement in standard setting of any non-OECD members that wish to sign-up on the specified terms is unprecedented in the tax area.

This new framework, alternatively referred to by the OECD as the BEPS Implementation Forum, provides for all interested countries and jurisdictions to participate as BEPS Associates in an extension of the OECD’s Committee on Fiscal Affairs (CFA). The participant would have to commit to implementing the BEPS package of minimum standards and pay an annual fee of an amount reflecting its economic circumstances.

The proposal for broadening participation in the BEPS Project will be presented to G20 Finance Ministers for approval at their next meeting on 26-27 February in Shanghai, China. If endorsed at that
meeting, the new forum will hold its first meeting in Kyoto, Japan on 30 June and 1 July 2016. Other
stakeholders will want to watch closely to see how they might be able to participate.

Source & more info: PwC

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