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BEPS : Luxembourg signs the Multilateral Instrument at the OECD Ministerial Council in Paris

Published Thursday June 08 2017

Luxembourg’s Finance Minister Pierre Gramegna participated in the OECD Council at Ministerial level on June 7th and 8th in Paris, which was placed under the theme of “Making globalization work: Better lives for all”, tackling issues such as inequality and the inclusion of those left behind by globalization, as well as the creation of a global level-playing field on fiscal transparency. In the context of the Ministerial, Minister Gramegna chaired a working group on how companies, especially SMEs, can take advantage of globalization, digitalization, and free-trade agreements.

Minister Gramegna also participated in the signing ceremony, with over 70 other countries and jurisdictions, of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (BEPS), committing to the automatic exchange of financial account information and the closing of legal loopholes. Furthermore, Luxembourg signed on to the optional protocols, which, as Minister Gramegna highlighted, demonstrates Luxembourg’s continued commitment to fiscal transparency and to the implementation of the G20 and OECD agendas in this area.