Cook Islands has newly joined the OECD’s Inclusive Framework on base erosion and profit shifting.
Cook Islands is the newest tax jurisdiction to joint the OECD’s Inclusive Framework on base erosion and profit shifting (BEPS).
The BEPS Inclusive Framework allows interested tax jurisdictions to work with the OECD and G-20 nations on monitoring the implementation of the BEPS proposals.
As a member of the BEPS Inclusive Framework, Cook Islands will monitor implementation of the following four BEPS minimum standards: countering harmful practices (BEPS Action 5), preventing treaty abuse (BEPS Action 6), transfer pricing documentation and country-by-country reporting (BEPS Action 13), and improving dispute resolution mechanisms (BEPS Action 14).
Till date, 125 tax jurisdictions are part of the BEPS Inclusive Framework.