Serbia has joined the “Inclusive Framework on BEPS,” the OECD announced today. Thus, Serbia has joined 111 other countries that are working together to prevent multinational group tax avoidance and improve the resolution of cross-border tax disputes.
Serbia’s decision to join follows that of Mongolia.
By joining the group, Serbia has pledged to adopt minimum standards on international taxation agreed to by nations in 2015 in response to the OECD/G20 base erosion profit shifting (BEPS) plan.
These standards include adopting tougher rules preventing tax treaty shopping, abolishing any tax regimes that are deemed harmful to other nations, and agreeing to collect and exchange country-by-country reports of multinationals. Serbia must agree to improve its cross-border tax dispute resolution system.
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