BVI, Turks And Caicos Sign Up To BEPS Inclusive Framework
by Lorys Charalambous, Lowtax.net, Cyprus
24 March, 2017
British Virgin Islands and Turks and Caicos Islands have joined the OECD's base erosion and profit shifting Inclusive Framework as Associate members.
As Associate members under the Inclusive Framework, the territories will work on an equal footing with other Associates and G-20 and OECD countries in the development of further BEPS standards and the peer review process.
The territories 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.
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