The Minister of Finance of Andorra, Jordi Cinca, was the representative and responsible for signing last week, the OECD Multilateral Agreement for the application of measures relating to tax agreements to prevent erosion and transporting taxable benefits (BEPS, for its acronym in English) by multinational companies.
The agreement, which was signed at the headquarters of the OECD in Paris and was signed by 67 senior officials from different countries Refresh the existing network of bilateral tax agreements and strengthen provisions aimed at resolving disputes that may arise concerning the interpretation of treaties.
Meanwhile, in November last, the Principality of Andorra joined the adoption of a multilateral instrument to improve international tax system . The document allowed launched a series of measures to ease international tax rules.
Thus, the content of the agreement provides governments measures and specific instruments to counteract some practices considered harmful and pernicious by multinationals in the current international context.
According to Angel Gurria, Secretary General of the OECD, this new agreement marks a turning point in the history of tax agreements and provides greater security for companies and ensures better functioning of the international tax system