On 23 February 2016 the OECD agreed a new framework to broaden participation in the OECD/G20 project on base erosion and profit shifting (BEPS). The new framework will be submitted to the G20 Finance Ministers for approval at their meeting on 26 and 27 February 2016.

The framework will allow all interested jurisdictions to participate as BEPS Associates, working on an equal footing with the member countries of the OECD and G20 on setting standards for international taxation and reviewing and monitoring the BEPS package that has already been published.

The mandate of the new framework will concentrate on reviewing the implementation of the minimum standards in the areas of harmful tax practices; abuse of tax treaties; country by country reporting and cross border dispute resolution. The forum will also monitor the ongoing collection of data on BEPS issues and the implementation of the remaining BEPS package. The BEPS Associates will support the implementation of BEPS measures in developing countries through the development of practical toolkits dealing with priority issues.

If approved by the G20 Finance Ministers a first meeting will be held under the new framework in June 2016.