More than ever it is clear that with
robust tax transparency standards
now established, the focus of OECD and
G20 efforts must be on ensuring their
consistent and global implementation.
programme. Meanwhile, the OECD
continues to work intensively with
the Global Forum on Transparency
and Exchange of Information for Tax
Purposes, starting with its developing
members, to provide all jurisdictions
with tools and practical guidance
adapted to their circumstances to
exchange tax information effectively;
and, partners with UNDP and several
advanced economies, in the framework
of the Tax Inspectors without Borders
initiative, to provide assistance to tax
administration in developing countries.
In parallel, since 2013, the OECD and
G20 have joined forces again to tackle
the loopholes and mismatches in the
international tax rules that facilitated the
shifting of corporate profits away from
the locations of the underlying economic
activity and value creation, and often into
low or no-tax jurisdictions through Base
Erosion and Profit Shifting – in effect
leading to the double non-taxation of
profits posted by big corporations. With
the agreement by the G20 on a package
of measures to counter BEPS in October
2015, the OECD and G20’s work on
this issue has now moved into a new
phase this year, opened up for the direct
involvement, on an equal footing, of all
interested countries and jurisdictions to
work together on this global issue. This
new Inclusive Framework on BEPS had
its inaugural meeting in June in Kyoto,
with 85 countries and jurisdictions now
committed to implementing the BEPS
package and working together on its
remaining elements and implementation.
A critical part of this stage of the OECD/
G20 BEPS Project will be the monitoring
of implementation of the 4 agreed BEPS
minimum standards, tackling