The Dominican Republic has become the latest member of the “Inclusive Framework on BEPS,” a group of countries that aims to fight tax avoidance by multinational enterprises and speed cross-border tax dispute resolution, the OECD announced today. The Dominican Republic is the 119th country to join.
By becoming a member of the framework, the Dominican Republic has pledged to adopt into its laws and practices minimum standards agreed to by countries in 2015 as a result of the OECD/G20 base erosion profit shifting (BEPS) project.
Thes BEPS minimum standards require countries to implement a country-by-country reporting scheme for large multinationals aimed at combatting tax avoidance through transfer pricing and other means and alter bilateral tax treaties to prevent tax treaty shopping.
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