Following his meeting with Mauricio Cárdenas in Bogotá, Luxembourg Minister of Finance Pierre Gramegna travelled to Lima on Thursday to participate in meeting of finance ministers and central bank governors of the G20 in his capacity as President of the ECOFIN Council of the European Union.
At the meeting, the Ministers and Governors welcomed the results of the BEPS project of the OECD, which will aim to establish an innovative framework for international business taxation. They also reaffirmed the need to ensure a rapud, consistent and effective implementation, with the pioneering role of the EU and the progress in the exchange of information made under the Luxembourg Presidency cited as an example. Those present then emphasised the importance of including developing countries in the process, before discussing the prospects for the global economic and climate funding regarding COP21.
Minister Gramegna reiterated his appreciation for the transposition of the BEPS Project as a step towards the creation of a global 'level playing field'.
"BEPS represents nothing less than a revolution in the field of international taxation," commented Minister Gramegna. "I welcome the leading role that the European Union and Luxembourg have played in the process. The EU will continue to lead by example in the implementation of the recommendations. The government will actively monitor the implementation of the new rules, in the interest of the competitiveness of the Luxembourg economy".
Photo by Ministry of Finance
