Non-G20 Member Countries can be BEPS Associates | KPMG | CA

Non-G20 Member Countries can be BEPS Associates

Non-G20 Member Countries can be BEPS Associates

Global Tax Adviser, March 01, 2016. The OECD has put out an open call for all interested countries to join the BEPS project as "BEPS associates". Those who decide to answer the invitation will be able to work alongside the OECD and G20 member countries on the remaining standard-setting under the BEPS project. BEPS associates will also help with reviewing and monitoring of the implementation the BEPS package.

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This proposal was endorsed by Finance Ministers of the G20 countries and the new working group will hold its first meeting in Kyoto, Japan in June 2016. 

BEPS associates

This new proposed forum would allow all interested countries and jurisdictions to work on an equal footing with OECD and G20 member countries on the remaining standard-setting under the BEPS project. The focus will be on implementation of four BEPS minimum standards for:

  • Addressing harmful tax practices
  • Tax treaty abuse
  • Country-by-country reporting requirements for transfer pricing,
  • Improvements to cross-border tax dispute resolution.

"BEPS associates" would also work to support implementation of the BEPS package, particularly in developing countries.

For more information, contact your KPMG adviser. 

Disclaimer

Information is current to March 01, 2016. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500

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