From November 29 to December 1 2016, Asia-Pacific Regional Meeting of the Inclusive Framework on BEPS Implementation has been held in Manila, Philippines. The meeting was co-organized by the OECD, the ADB, in partnership with the OECD Korea Policy Centre.

The meeting was attended by fifty participants, including delegates from 16 countries, representatives from international organizations. The purpose and the agenda of the meeting mainly focused on the following topics:

– The organization of the Inclusive Framework on BEPS and the implementation of the BEPS package

– Open session for business and civil society

– Latest developments on Forum on Harmful Tax Practices and latest discussions in the area of transfer pricing and related standard setting work within working party 6

– Discussions on countries’ priorities and on their specific capacity building needs, including the framework of the Platform for Collaboration on Tax

– The developments in the area of toolkits on comparable, on transfer pricing documentation and on indirect transfer of assets

Participants expressed concern at the lack of political awareness of the Inclusive Framework on BEPS among parliamentarians and commended the increasing engagement of the OECD with parliamentary associations and encouraged action in the Asian region.

The meeting concluded by noting the significance and effectiveness of the Regional component of the Inclusive Framework and it was agreed to plan further activities of the Asian Regional Meeting on the BEPS Inclusive Framework in 2017.

Tax Programme, OECD Korea Policy Centre