Macau, Mauritius, Ukraine join the ‘inclusive framework on BEPS’ to combat multinational tax avoidance

Macau, Mauritius, and Ukraine have joined the ‘inclusive framework on BEPS,’ a group of countries that have pledged to promote the implementation of measures to combat multinational tax avoidance designed by the OECD and G20 in the base erosion profit shifting (BEPS) project.

Total membership of the inclusive framework on BEPS now stands at 90 countries and jurisdictions, including 44 non-OECD/non-G20 countries.

The commitment means that Macau, Mauritius, and Ukraine have agreed to adopt OECD/G20-designed BEPS minimum standards on treaty shopping, implement country-by-country reporting for transfer pricing, limit the benefits of their intellectual property or other preferential tax regimes, and fully implement the mutual agreement procedure in their tax treaties.

In return, Macau, Mauritius, and Ukraine will be permitted to work alongside other countries to ensure widespread adoption of the BEPS minimum standards through a peer review process, participate in some remaining BEPS project international tax standard setting work, participate in ongoing data gathering on the tax challenges of the digital economy, and work on measuring the impact of BEPS.

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