Senior tax experts met at an event in Portugal on October 23 to discuss the strategic importance of the OECD’s work on base erosion and profit shifting (BEPS) and the challenges faced by tax administrations in implementing the BEPS proposals.
The event was hosted by the OECD and the Inter-American Center of Tax Administrations (CIAT). The purpose of this event was to promote a common understanding of the impact of the BEPS measures, focusing on the pivotal role of the Heads of Tax Administrations and decision makers.
Discussions focused on the strategic importance of the work on BEPS in the current global tax context, including the importance of political will and open communications with all stakeholders. Participants also discussed the opportunities and challenges that arise from the implementation of the BEPS measures within their own tax administrations, identifying a common ground to mobilize increased domestic resources and enhance the effectiveness of tax systems more generally.
At the event, the OECD and the CIAT signed a Memorandum of Understanding to continue their co-operation towards promoting fair and efficient tax systems and administrations to strengthen and modernize the international taxation administrative structures.
Marcio Ferreira Verdi, Executive Secretary of the CIAT, said: “International co-operation and the exchange of experiences is fundamental to support the implementation of the BEPS Action Plan, in Latin America and the Caribbean, there are different success stories, which, like those in other parts of the world, are of great value to strengthen the public revenues of the countries in our region.”
Grace Perez-Navarro, Deputy Director of the OECD’s Centre for Tax Policy and Administration, said: “CIAT is a very important partner and we have a long-standing relationship of mutual benefit. Our joint work is an essential component to engage non-OECD countries in the international tax agenda.”