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G20 leaders endorse OECD measures to crack down on tax loopholes, reaffirm its role in ensuring strong, sustainable and inclusive growth

  • G20 Image
  • OECD (Organisation for Economic Co-operation and Development) Image

Nov 16, 2015

On November 16, 2015, at their Summit in Antalya, Turkey, the G20 leaders committed to the implementation of the Base Erosion and Profit Shifting project (BEPS) which closes gaps that allow corporate profits to “disappear” or to be artificially shifted to low or no tax environments. They called on the OECD to monitor progress and to develop, by early next year, an inclusive framework including the participation of developing economies on equal footing.

The leaders welcomed progress being made to boost transparency and fairness in the global tax system, reaffirming their commitments to ımplement automatic exchange of information as early as 2017 and by 2018 at the latest.

Read the G20 final communique on the G20's Web site.

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