The OECD has agreed a new framework to allow all interested countries and jurisdictions to join in efforts to update international tax rules for the 21st Century. The proposal for broadening participation in the [OECD/G20 Base Erosion and Profit Shifting (BEPS) Project]( will be presented to G20 Finance Ministers at their next meeting on 26-27 February in Shanghai, China.

If endorsed in Shanghai, the new framework will hold its first meeting in Kyoto, Japan in June.

This new forum will provide for all interested countries and jurisdictions to participate as BEPS Associates in an extension of the OECD’s Committee on Fiscal Affairs (CFA). As BEPS Associates, they will work on an equal footing with the OECD and G20 members on the remaining standard-setting under the BEPS Project, as well as the review and monitoring of the implementation of the BEPS package.

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