The Principality of Monaco takes part in the 15th meeting of the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS)

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From 10 to 13 July 2023, the Principality of Monaco took part in the fifteenth meeting of the Inclusive Framework of the Organisation for Economic Co-operation and Development (OECD) and G20 on base erosion and profit shifting (BEPS), held in Paris.

The Principality was represented by Mr Pierre-Jean Douvier in Paris and from Monaco by Mr Romain Bugnicourt and Ms Laura Repiquet from the Ministry of Finance and Economy.

At this meeting, 138 members of the Inclusive Framework on Base Erosion and Profit Shifting (BEPS), representing over 90 % of global GDP, agreed an Outcome Statement recognising the significant progress made and allowing countries and jurisdictions to move forward with historic, major reform of the international tax system. The newly agreed Outcome Statement will be delivered to G20 Finance Ministers and Central Bank Governors at their meeting in Gandhinagar, India on 17–18 July.

The two-pillar solution to address the tax challenges arising from the digitalisation of the economy will ensure a fairer distribution of profits and taxing rights among countries and jurisdictions with respect to the world’s largest multinational enterprises (MNEs).

The Principality of Monaco remains fully involved in the work of the OECD and maintains its commitment to upholding international standards.

For more information, see:

• OECD news release
• Final Declaration of the OECD