G20 finance ministers endorsed the [final package](http:// http://www.oecd.org/tax/beps-2015-final-reports.htm) of measures for a comprehensive, coherent and co-ordinated reform of the international tax rules during a meeting on 8 October, in Lima, Peru.

During a meeting chaired by Turkish Deputy Prime Minister Cevdet Yilmaz, the G20 finance ministers expressed strong support for the OECD/G20 [Base Erosion and Profit Shifting (BEPS) Project](http:// http://www.oecd.org/tax/beps.htm), which provides governments with solutions for closing the gaps in existing international rules that allow corporate profits to « disappear » or be artificially shifted to low/no tax environments, where little or no economic activity takes place.

They renewed a [commitment](http:// https://g20.org/wp-content/uploads/2015/09/September-FMCBG-Communique.pdf) for rapid, widespread and consistent implementation of the BEPS measures and reiterated the need for the OECD to prepare an inclusive monitoring framework by early-2016 in which all countries will participate on an equal footing. Ministers agreed to forward the BEPS measures for discussion and action by G20 heads of state during their summit on 15-16 November in Antalya, Turkey.

Read more [here](http://www.oecd.org/tax/g20-finance-ministers-endorse-reforms-to-the-international-tax-system-for-curbing-avoidance-by-multinational-enterprises.htm).