The OECD inclusive framework has released the results of 11 preferential regime reviews in connection with BEPS Action 5 (harmful tax practices), updating the October 2017 progress report. These show:
four new regimes designed to comply with international standards and found not to be harmful (Lithuania, Luxembourg, Singapore and Slovak Republic);
four regimes abolished or amended to remove harmful features (Chile, Malaysia, Turkey and Uruguay); and
three regimes found to be out of scope (Kenya and two Vietnam regimes).
Since it was created, the inclusive framework has identified 175 regimes in over 50 jurisdictions. Of these, 31 regimes have been changed, 81 require legislative changes which are in progress, 47 have been found not to pose a BEPS risk, four regimes have harmful or potentially harmful features and 12 are still under review. See https://bit.ly/2LlIe74.
The OECD inclusive framework has released the results of 11 preferential regime reviews in connection with BEPS Action 5 (harmful tax practices), updating the October 2017 progress report. These show:
four new regimes designed to comply with international standards and found not to be harmful (Lithuania, Luxembourg, Singapore and Slovak Republic);
four regimes abolished or amended to remove harmful features (Chile, Malaysia, Turkey and Uruguay); and
three regimes found to be out of scope (Kenya and two Vietnam regimes).
Since it was created, the inclusive framework has identified 175 regimes in over 50 jurisdictions. Of these, 31 regimes have been changed, 81 require legislative changes which are in progress, 47 have been found not to pose a BEPS risk, four regimes have harmful or potentially harmful features and 12 are still under review. See https://bit.ly/2LlIe74.
