Botswana becomes 99th country to join BEPS

SHARE   |   Tuesday, 13 June 2017   |   By

The OECD announced June 9 that Botswana has joined the “Inclusive Framework on BEPS,” becoming the framework’s 99th member. The Inclusive Framework on BEPS is a group of countries that have pledged to implement measures designed by OECD and G20 countries in the 2015 base erosion profit shifting (BEPS) project aimed at preventing multinational tax avoidance and improving resolution of tax disputes involving multinationals. The commitment means that Malaysia has agreed to adopt BEPS “minimum standards” on tax treaty shopping, implement country-by-country reporting for transfer pricing, limit benefits of any intellectual property or other preferential tax regimes, and fully implement the mutual agreement procedure in its tax treaties. Botswana must also pay a fee to participate.