On June 30 the OECD representatives of more than 80 countries and jurisdictions have gathered in Kyoto for the first meeting of the new inclusive framework to tackle Base Erosion and Profit Shifting.
Thirty-six countries and jurisdictions have already formally joined the new inclusive framework on BEPS, and have committed to implement the BEPS package, bringing to 82 the total number of countries and jurisdictions participating on an equal footing in the Project. The other 21 countries and jurisdictions attending the Kyoto meeting are expected to join the inclusive framework in the coming months.
In addition, the Multilateral Competent Authority agreement for the automatic exchange of Country-by-Country reports was signed by Argentina, Curacao, Georgia, Korea, and Uruguay during the meeting (signatories number is now: 44 countries).
Press Release: Link
CFE’s Tax Top 5: key tax news of the week, 04 July 2016