Barbados has become the 101st jurisdiction to join the “Inclusive Framework on BEPS,” which is a group of countries that have pledged to implement measures aimed at preventing tax avoidance by multinationals and improving tax dispute resolution.
These measures were designed by OECD and G20 countries in the 2015 base erosion profit shifting (BEPS) project.
The OECD also said the first progress report produced by the Inclusive Framework will be published tomorrow.
The Inclusive Framework was established in January 2016, after the G20 leaders urged the timely implementation of the BEPS package.
