Botswana joins OECD inclusive framework
The Organisation for Economic Co-operation and Development (OECD) announced on Tuesday that Botswana has joined the Inclusive Framework on base erosion profit shifting (BEPS) becoming the framework’s 99th member.The Inclusive Framework on BEPS is a group of countries that have pledged to implement measures designed by OECD and G20 countries in the 2015 BEPS project aimed at preventing multinational tax avoidance and improving resolution of tax disputes involving multinationals.
As a member of the Inclusive Framework, Botswana will work on an equal footing with other members and G-20 and OECD countries in the development of further anti-BEPS measures and the peer review process.
Botswana will implement and support the review of the four BEPS minimum standards, on harmful tax practices, tackling tax treaty abuse, country-by-country reporting, and improvements to cross-border tax dispute resolution mechanisms.
The commitment also means that Botswana has agreed to adopt BEPS “minimum standards” on tax treaty shopping, implement country-by-country reporting for transfer pricing, limit benefits of any intellectual property or other preferential tax regimes, and fully implement the mutual agreement procedure in its tax treaties.
