TAX: OECD/G20 Inclusive Framework issues statement following plenary meeting

The Organisation for Economic Co-operation and Development (OECD)/G20 Inclusive Framework on BEPS issued a statement on 11 April 2025, following its meeting in Cape Town, South Africa. The brief statement notes topics discussed during the meeting, covering ongoing and future work agenda items of the Inclusive Framework.

Detailed discussion

The Inclusive Framework’s brief public statement released following its 7-10 April 2025 meeting provides a very high-level report identifying key discussion topics at the 17th plenary meeting in Cape Town. The statement refers to the meeting as celebrating the 10th anniversary of the release of the final reports in the BEPS project in 2015.

With respect to the BEPS 2.0 project, the statement reports: “Members recognised the critical importance of securing certainty and stability in the international tax system, in particular with respect to the implementation of Pillar Two and the ongoing Pillar One negotiations, agreeing to continue discussions in furtherance of this objective.”

The statement also indicates that members recognized the value of the Inclusive Framework as a platform for collaboration, noting the opportunity to explore new areas of common interest (e.g., global mobility and the interaction between tax, inequality and wealth) and welcoming improvements in the Inclusive Framework’s operating processes and governance.

According to the statement, members agreed to review the BEPS work to date and shared initial ideas to help shape a report that is anticipated to be delivered to the G20 later this year (2025).

Implications

This plenary meeting was the first Inclusive Framework meeting since United States (US) President Trump issued an Executive Order on the OECD “Global Tax Deal.” (See EY Global Tax Alert, US issues Executive Order on BEPS 2.0, dated 23 January 2025.)

The Inclusive Framework statement indicates that member jurisdictions recognize the critical importance of certainty and stability with respect to implementing Pillar Two and the ongoing negotiations on Pillar One and have agreed to continue discussions in furtherance of this objective. Affected companies should monitor developments as these discussions continue and consider engaging with policymakers in the countries where they operate.

The statement also references future work of the Inclusive Framework, including a review of the BEPS work to date and potential exploration of new areas of common interest. Stakeholders may want to look for opportunities to provide input on particular areas where collaborative efforts could reduce complexity and enhance certainty for businesses.

7 March 2025

INDIA: New Tax Bill Sparks Privacy Fears

The newly proposed Income Tax Bill 2025 could grant tax authorities unprecedented powers to access private digital spaces in suspected tax evasion cases. The sweeping changes, set to take effect from

Read More
26 June 2025

CLIMATE FINANCE: Bank unveils green loans plan to unlock trillions for climate finance

An innovative plan to use public money to back renewable energy loans in the developing world could liberate cash from the private sector for urgently needed climate finance. Avinash Persaud, a special

Read More
29 April 2024

ASIA: South-east Asia poised for sustainable bond lift-off

While 2023 was a slowdown year for the sustainable bond market worldwide, the Asean+3 region (the 10 Association of Southeast Asian Nations plus China, Japan and South Korea) slowed down less than most.

Read More
20 May 2024

Four Carey Olsen lawyers star in Asian Legal Business Offshore Client Choice 2024

Press Release from Carey Olsen, Monday 20 May, 2024.  Carey Olsen Singapore partner Helen Wang and counsel Kate Lan, Rebecca Lee and Amelia Tan have been featured in the Asian Legal Business (ALB)

Read More