On June 30 and July 1, representatives of countries and jurisdictions worldwide will gather in Kyoto, Japan, for a first meeting of the inclusive framework organized to take forward the OECD/G20 Base Erosion and Profit Shifting (BEPS) Project.
Senior level representatives of the members of the framework will take key decisions on the governance, structure and work program of the framework, including the monitoring process of the four minimum standards and the timing of the implementation of the other elements of the BEPS Package.
"The two-day meeting will mark a new era in international tax policymaking, as a broad range of countries representing varying levels of development come together for the first time with OECD members and G20 countries to address BEPS on an equal footing in the OECD’s Committee on Fiscal Affairs," the OECD informed in its press release.
The OECD's aim is to allow all interested countries and jurisdictions to work jointly for the implementation of the package of measures against BEPS. During the meeting, participating countries will become BEPS Associates upon receipt of their positive response to the formal invitation. "All interested countries and jurisdictions, including developing economies, can now express their interest in joining this inclusive framework," the OECD informed.
During the OECD's Parliamentary Group on Tax meeting in Paris held on May 2,Pascal Saint-Amans, Director of the OECD Centre for Tax Policy and Administration, underlined that the main challenge is now to ensure the consistent and effective implementation of the BEPS package, building on the strong political momentum in this regard. He emphasized the importance of global cooperation and the important role of involvement of developing countries, pointing out that the countries and jurisdictions included in the new inclusive framework will monitor the implementation of the BEPS project globally.
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