On 1 July 2021, the OECD announced that 130 out of 139
countries in the Inclusive Framework have agreed to join a new
two-pillar plan to reform international taxation rules,this
includes all of the G20.
The Inclusive Framework on Base Erosion and Profit Shifting
(BEPS) allows interested countries and jurisdictions to work with
OECD and G20 members on developing standards on BEPS related issues
and review and monitor the implementation of the BEPS actions.
The African Tax Administration Forum (ATAF) has welcomed the
achievement of this new milestone as they harbour the view that a
global consensus on the tax challenges arising from the
digitalization of the economy is of paramount importance as now
more than ever, cooperation and multilateralism are required in
developing solutions that will assist all countries in rebuilding
their economies in a post-Covid-19 environment.
