Pierre Gramegna will be in Paris on Wednesday 27 January 2016 on behalf of Luxembourg as one of the representatives of more than 30 countries to sign the OECD Multilateral Competent Authority Agreement (MCAA) to fight against corporate tax avoidance.

The agreement will facilitate the automatic exchange of 'country by country' declarations provided for by the OECD / G20 initiative on Base Erosion and Profit Shifting (BEPS). It will allow a fast and consistent implementation of the new reporting standards relating to transfer pricing developed under Action 13 of the BEPS Action Plan, which will aim to provide tax authorities with a complete picture of how multinationals structure their activities, while ensuring a guarantee of confidentiality of such information.

The Multilateral Agreement between competent authorities will play an important part in the 'level playing field' of international taxation. Luxembourg's accession to the agreement is in line with the 29 October 2014 signing of the Berlin Declaration, in which Luxembourg joined as one of the 'early adopters', in other words one of the countries applying information exchange according to the OECD common reporting standatd from 2017.

On Thursday 28 January 2016, Minister Gramegna will then travel to Milan to participate in a seminar organised by Luxembourg for Finance (LFF) under the theme 'Lussemburgo: il vostro partner internazionale'. On the sidelines of the seminar, the Finance Minister will also meet with senior representatives of the Italian financial sector.

 

Photo by MFIN (Minister Pierre Gramegna at the signing of an agreement of non-double taxation with Serbia in late 2015)