G-20 Leaders Endorse Final BEPS Package

Group of Twenty (G-20) finance ministers have endorsed the final package of measures proposed by the OECD as part of its base erosion and profit shifting (BEPS) project.

At a meeting on October 8, 2015, in Lima, Peru, the G-20 Finance Ministers said they remain commited to the rapid, widespread, and consistent implementation of the BEPS recommendations and reiterated the need for the OECD to prepare an inclusive monitoring framework by early-2016. The ministers agreed to discuss practical steps towards implementation during their next summit on November 15-16 in Antalya, Turkey.

OECD Secretary-General Angel Gurría commented: “Our challenge going forward is to implement the measures in this plan… everyone has a stake in reversing BEPS.”

“The BEPS project has shown that all stakeholders can come together to bring about change. Swift implementation by governments will ensure a more certain and more sustainable international tax environment for the benefit of all, not just a few.”