On 14 October 2020, Belarus has published Resolution No. 590 on the National Legal Internet Portal, through which Belarus is set to join the Global Forum on Transparency and Exchange of Information for Tax Purposes. The decision was formalized in the Council of Ministers as of 12 October 2020.
In addition to that, the Council of Ministers approved Belarus’s plans to join the Inclusive Framework to implement the Action Plan on Base Erosion and Profit Shifting (BEPS). The BEPS inclusive framework is a group of countries that have assured to adopt and monitor the implementation of minimum standards for preventing tax avoidance by multinationals and develop cross-border tax dispute resolution. These minimum standards were set by OECD and G20 countries.
As a member of the Inclusive Framework on BEPS, Belarus will monitor implementation of the following four BEPS minimum standards: countering harmful practices (BEPS Action 5), preventing treaty abuse (BEPS Action 6), transfer pricing documentation, and country-by-country reporting (BEPS Action 13), and improving dispute resolution mechanisms (BEPS Action 14).
