The G20 Finance Ministers at their meeting of 8 October 2015 gave strong support to the final package of measures produced by the OECD action plan on base erosion and profit shifting (BEPS). They repeated their commitment to a rapid and consistent implementation of the measures and stressed the need for the preparation of a monitoring framework by early 2016. The package of BEPS measures is now to be forwarded to the G20 heads of state for consideration at their summit meeting on 15 and 16 November 2015.
Around ninety countries are currently working together to develop a multilateral instrument through which the treaty-related BEPS measures may be included in the existing network of bilateral double tax treaties. The instrument will be available for signature by any interested country by early 2016. This will enable the treaty-related measures to be implemented as quickly as possible.
