BEPS: OECD holds regional consultations in Asia and Latin America
10 March 2014
Posted by: Author: OECD
In line with the BEPS Action Plan to involve developing countries in the work on Base Erosion and Profit Shifting (BEPS), the OECD has held two regional consultations for the Asia-Pacific and Latin American-Caribbean regions. The events were organised with regional partners – the Korean Policy Centre (Tax Programme) and CIAT – and focused on discussion of BEPS issues for Partner countries in the regions and how the current work in the context of the OECD/G20 Project on BEPS should take those into account, with a particular focus on developing countries.
Over 50 senior tax officials from 25 jurisdictions, regional and international organisations met in Seoul on 20-21 February, and over 70 senior tax officials from 25 jurisdictions, regional and international organisations met in Bogotá on 27-28 February. Business and civil society representatives participated in selected parts of the consultations and provided their perspectives on the BEPS Project.
The Co-Chairs of each meeting prepared summaries of the discussions held in Seoul and Bogotá (English/Spanish).
Similar consultations for African jurisdictions are being organised by ATAF in Pretoria on 18-19 March and by the OECD and CREDAF in Paris on 25 March.
The outcomes of these regional consultations will be discussed at the meetings of the Global Forum on Transfer Pricing and of the Task Force on Tax and Development on 26-28 March 2014. The input received will also be considered in the development of the BEPS outputs by the OECD Committee on Fiscal Affairs and its subsidiary bodies. They will also inform the work of the G20 Development Working Group on the impact of BEPS issues in developing countries, and how the G20 can assist low income countries (LICs) address the BEPS issues and tax challenges they face.
An ongoing dialogue with developing countries will take place as the BEPS outputs are being developed and the implementation phase begins.
This article first appeared on oecd.org/tax.