The Inclusive Framework of nearly 100 countries is now responsible for the direction of the base erosion and profits shifting (BEPS) initiative. The BEPS Project was started by the G20 group of countries, initially coordinated by the full members of the Organisation for Economic Cooperation and Development (OECD) and is currently led by the wider group which includes BEPS associates.
A vital part of the project is consistent and timely implementation, particularly bearing in mind some domestic policy trends. Additional work also is underway to clarify and enhance the standards identified for change. This paper seeks to update you on progress in both areas given their significant impact on corporate tax planning and compliance.