This week, nearly 450 delegates from 135 countries and jurisdictions, as well as observers from 11 International Organisations, met in Cape Town on 7-10 April at the 17th Plenary meeting of the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS), hosted by the government of South Africa.
The agenda included fruitful discussions on BEPS implementation, the Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy, and preparing a stocktake report for the G20 on the progress of BEPS implementation. In addition, new areas of common interest, such as global mobility and the interaction between tax policy, inequality and growth, will be explored. Discussions on domestic resource mobilisation also acknowledged the perspectives of developing countries, including the ongoing need for capacity building.
In a public statement by the Inclusive Framework, agreed at the meeting, members recognised the importance of securing certainty and stability in the international tax system, and the need to continue discussions on the Two-Pillar Solution and other items for a future agenda using a phased, evidence-based approach.
“Members have reaffirmed their shared interest in extending the work of the Inclusive Framework and to adapt to new challenges and country perspectives. In the coming years, the Inclusive Framework will continue to advance the BEPS implementation work and discussions on the Two-Pillar Solution, with the goal of securing certainty and stability,” said Marlene Nembhard Parker and Tim Power, Co-Chairs of the Inclusive Framework.
“I welcome the outcomes of this meeting of the Inclusive Framework in Cape Town. It sets a clear direction for the future of this valuable and important platform for international tax cooperation, including to continue the discussions on the Two-Pillar Solution to secure certainty in the international tax system,” OECD Secretary-General Mathias Cormann said.
“In addition to continuing to explore work on BEPS and the Two-Pillar Solution, the Inclusive Framework will also explore emerging tax issues and continue to find solutions which protect country tax bases, mobilise domestic resources, and foster growth,” said Manal Corwin, Director of the OECD Centre for Tax Policy and Administration.
Further information on the Inclusive Framework on BEPS is available at https://www.oecd.org/en/topics/base-erosion-and-profit-shifting-beps.html
For queries, please contact the OECD Centre for Tax Policy and Administration: ctp.communications@oecd.org