Seychelles prepares to host high-level delegation from the Organisation for Economic Co-operation and Development

December 05, 2018

Seychelles is preparing to host aHigh-level delegation from the Organisation for Economic Co-operation and Development, OECD, on the 13th to 14th December at the Savoy Hotel.

The three- member delegation from the OECD will conduct a comprehensive workshop onBase Erosion and Profit Shifting (BEPS) incentives; which will entail a technical workshop will be carried out on the first day, covering issues such as Harmful Tax Practices, Transfer Pricing and tax treaty-related minimum standards.The aim is to better acquaint stakeholders and partners with the BEPS initiative.

There will also be a session on capacity building initiatives available to support countries in the implementation of the BEBS measures.

The Ministry of Finance, Trade, Investment and Economic Planning is organizing the workshop in collaboration with the OECD.

Participants of the workshop will include representatives from relevant stakeholders, namely, the Ministry of Finance, Trade, Investment and Economic Planning, Seychelles Revenue Commission, Financial Services Authority, Attorney General Office, Financial Intelligence Unit and Registrar of company.

The BEPS project is an international obligation, which Seychelles committed itself to at the request of OECD in 2016 to conform to international standards on tax matters. It includes fifteen (15) Actions; four of which are minimum standards and should be implemented by all countries within a set time frame.

It is a new framework established by the OECD, that allows countries and jurisdictions to work jointly for the implementation of the package of measures against tax avoidance strategies that exploit gaps and mismatches in tax rules to artificially shift profits to low or no-tax locations . This framework brings together countries and jurisdictions as Associates on an equal footing with OECD and G20 countries in the OECD’s Committee on Fiscal Affairs.

Members of the Press are being invited to cover the first day of the workshop (13th December) at the Savoy Hotel from 8.30 a.m to 4.00 p.m.

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