British Virgin Islands set to join OECD Inclusive Framework on BEPS

The British Virgin Islands will join the OECD Inclusive Framework, pledging to adopt and work toward the implementation of the minimum international tax standards in the OECD/G20 Base Erosion Profit Shifting (BEPS) project, the BVI government has announced.

The commitment was made following a December 13 conference “Current Developments in International Taxation and the Impact on Caribbean Jurisdictions,” held in the BVI and hosted by the BVI Ministry of Finance, the OECD, and the Global Forum on Transparency and Exchange of Information, the government said.

BVI expects to join the framework during first quarter of 2017, the government said.

The government has already announced that BVI will introduce country-by-country reporting for multinationals.