The G20/OECD base erosion profit shifting (BEPS) project is in its “decisive stages,” with only six months remaining until the 15 BEPS deliverables must be completed, Angel Gurría Secretary-General of the OECD said at a meeting of World Bank Group and International Monetary Fund officials, G20 Finance Ministers, and Central Bank Governors held April 17 in Washington, DC.
Gurría said tax officials will meet in May and September finalize negotiations on remaining BEPS issues, including transfer pricing and dispute resolution issues. The package must be a agreed to by consensus of the 44 members of OECD and the G20, he noted.
All countries have recently been invited to join the ad hoc Group for the negotiation of a multilateral instrument to implement BEPS, which will be finalized in 2016, he said. Gurría also noted OECD efforts to engage developing nations in its international tax work and said the OECD has begun work mandated by the G20 to assess the impact of tax policy on small to medium-sized businesses.
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