G-20 finance ministers approve final BEPS plan measures

The G-20 finance ministers have endorsed the final OECD reports responding to the OECD/G20 base erosion profit shifting (BEPS) plan, which were released publicly last Monday.

In an October 9 statement, the OECD said that at a meeting held in Lima, Peru, the G20 finance ministers expressed strong support for the BEPS project.

The finance ministers also renewed a commitment for rapid, widespread, and consistent implementation of the BEPS measures and reiterated the need for the OECD to prepare an inclusive monitoring framework by early-2016 in which all countries will participate on an equal footing, the OECD said.

The package will next be submitted to G20 leaders for final approval at their November 15-16 meeting in Antalya, Turkey.

See:

• OECD release

• Statement by US Treasury Secretary Jacob J. Lew at the G-20/OCED BEPS Press Conference

Related MNE Tax articles:

• OECD releases final BEPS action plan guidance

• OECD officials highlight key decisions in final BEPS reports