Grenada joins “Inclusive Framework on BEPS” to fight multinational group tax avoidance 

Grenada has joined the “Inclusive Framework on BEPS,” becoming the coalitions’ 123rd member, the OECD announced October 26.

By joining, Grenada has pledged to adopt “minimum standards” established in a 2015 agreement of OECD and G20 nations. The standards are designed to fight tax avoidance by multinational groups and improve cross-border tax dispute resolution.

Among the minimum standards is agreed to by Inclusive Framework members is agreement to take part in a country-by-country reporting scheme that will allow tax authorities worldwide to obtain a better picture of multinational group activity. The data will aid in the assessment of whether there is a risk that a multinational is engaging in tax avoidance through transfer pricing or other means.