CATA co-hosts regional consultations on BEPS

CATA, together with other international organisations, collaborated with the Organisation for Economic Cooperation and Development (OECD) to host regional consultations on base erosion and profit shifting (BEPS).

The virtual consultations followed the release of the October 2021 ‘Statement on a Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy’ by the Inclusive Framework on BEPS.

The purpose of the meetings was to present an update on the progress made on the development of the rules, instruments, and guidance needed to bring Pillar One and Pillar Two into effect by the deadline of 2023. The meetings also provided the opportunity to gather feedback from jurisdictions on the topics under discussion.

The first consultation took place on 24th January 2022. Along with the OECD and CATA, this meeting was co-hosted by the Asian Development Bank (ADB), the Pacific Islands Tax Administrators Association (PITAA), and the Study Group on Asian Tax Administration and Research (SGATAR). A second consultation, which was hosted by the OCED, CATA and the Caribbean Organisation for Tax Organisations (COTA) was held the following day.