Bahrain has joined the “Inclusive Framework on BEPS,” a group of now 115 countries that have pledged to adopt minimum standards developed by OECD and G20 countries in the 2015 base erosion profit shifting (BEPS) plan agreements, the OECD announced May 11.
The announcement follows Saint Lucia’s decision to join, announced last week.
By joining the BEPS framework, Bahrain has pledged to adopt laws designed to curtail tax avoidance by multinationals, such as country-by-country reporting. Bahrain has also agreed to meet BEPS plan minimum standards aiming to improve cross-border tax dispute resolution.
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