The G20 finance ministers gave full support to the project that would prevent corporate profits from "disappearing" or being artificially transferred to jurisdictions with low or no taxation.
From the press release issued by the G-20:
During a meeting chaired by Turkish Deputy Prime Minister Cevdet Yilmaz, the G20 finance ministers expressed strong support for the OECD/G20 Base Erosion and Profit Shifting (BEPS) Project, which provides governments with solutions for closing the gaps in existing international rules that allow corporate profits to « disappear » or be artificially shifted to low/no tax environments, where little or no economic activity takes place.
"We can overcome the challenges we share with a sense of unity ... or we can continue with the hackneyed debates of the past."
The president of United States wrote this column for Grupo de Diarios América, which includes some of the most important newspapers in the region.
In the lobby of the 5th Summit of the Americas, Obama sent a message of renewal in the form of relations with the rest of the American nations, emphasizing the need to stop looking to the past and start betting on the future.
Ferris & Associates is a boutique law firm specialized in Business Law, Litigation and Conflict Resolution and Foreign Investmente, as well as, providing personalized services.
Operates in Costa Rica and Costa Rica
Phone: (506) 2588 2505 - (506) 2288 2245
The firm currently provides services to individual and corporate clients in Panama as well in the Americas, Europe and Asia. Its partners maintain a commitment with professional ethics and social responsibility by participating in the board of directors of groups such as the Panama Bar Association, the German Chamber of Commerce and the American Chamber of Commerce (AMCHAM) of Panama.
Operates in Panama
Phone: (507) 3406447
GLC Abogados Consortium LLC S.A. is an experienced full service Costa Rican law firm which specializes in protecting the interests of individuals and companies that conduct business in Costa Rica. Our qualified team of Costa Rican attorneys at law has a clear understanding of the local legal and business environment complemented with a global vision.
Operates in Costa Rica and Panama
Phone: (506) 2524-3176
More than a Law Firm. Lex Counsel & Co. is a business ally, an integral adviser and a support team for all our client’s needs. We established our firm to offer high quality services both at national and international level, under a renewed professional proposal, endorsed on standards that guarantee options abilities, personal and permanent contact and quality results on every transaction we intervene.
Operates in Panama
Phone: (507) 366 6400 - (507) 366 6401