Economic and Financial Affairs
Third Country Meeting

Pierre Gramegna attends G20 meetings in Lima

In his capacity as President of the European Union's Ecofin Council, Pierre Gramegna took part in meetings held by G20 Finance Ministers and Central Bank Governors on 8 and 9 October 2015.  The Ministers and Governors welcomed the results of the OECD's BEPS (Base Erosion and Profit Shifting) project, the objective of which is to set out an innovative framework for international company taxation. They called for the need to ensure its rapid, coherent and effective implementation. On this subject, the European Union's pioneering role and advances regarding information sharing achieved under the Luxembourg Presidency were cited as an example to follow. Furthermore, the Ministers stressed the importance of including developing countries in the process. The Ministers also looked at the perspectives for the global economy and financing of climate measures in view of the COP21 conference.

Pierre Gramegna, in his capacity as President of the European Union's Ecofin Council, welcomed the adoption of the BEPS rules by the G20 Finance Ministers and insisted on the importance of now ensuring its global, coherent implementation within the spirit of ensuring a 'level playing field'. 

The Minister commented: 'BEPS represents nothing less than a revolution in terms of international taxation. I welcome the leading role that the European Union and Luxembourg have played in the process. The European Union will continue setting the example in implementing recommendations. The Government will actively follow the implementation of new rules, in the interest of the competitiveness of Luxembourg's economy.'

  • Updated 08-10-2015