The OECD has released its plans for developing countries to play a greater role in its BEPS initiatives. A link to the OECD release is attached:
- Three-part strategy
- Attendance at meetings by 10 developing countries, including Albania, Jamaica, Kenya, Peru, Philippines, Senegal and Tunisia.
- Five regional networks of tax policy and administration officials will be established for coordination and dialogue on BEPS issues. The regional focus includes developing countries located in Asia, Africa, Central Europe, Middle East, Latin America / Caribbean and Francophone regions. The regional network will also be a forum for developing countries to discuss negotiation and implementation of the multilateral instrument under Action 15 of the BEPS Project.
- BEPS toolkits to be developed for practical implementation and capacity building.
- A two-day workshop is scheduled in December 2014 that will allow developing countries to discuss practical aspects and their priority issues.
Developing countries generally have less resources, experience and training to implement BEPS effectively, therefore this initiative should be monitored to determine ultimate success of the BEPS initiatives around the world.