OECD – BACKGROUND BRIEF. Inclusive Framework on BEPS. The international tax landscape has changed dramatically in recent years as a result of economic challenges, and new standards have been developed to enable countries protect their revenue bases. With a conservatively estimated annual revenue loss of USD 100 to 240 billion due to base erosion and profit shifting (BEPS), the stakes are high for governments around the world. With the political support of the G20 Leaders, OECD and G20 countries have taken joint action to address the weaknesses within the international tax system that create opportunities for BEPS. Working with other countries, they have developed a comprehensive package of measures to tackle BEPS: the BEPS package. Countries and jurisdictions are now working together on implementing the BEPS package consistently on a global basis, and to develop further standards to address remaining BEPS issues. To these ends, the decision making body for the OECD’s tax work – the OECD Committee on Fiscal Affairs (CFA) – had been opened up to interested countries and jurisdictions in order to put in place an Inclusive Framework on BEPS. The Inclusive Framework on BEPS held its first meeting on 30 June – 1 July 2016 in Kyoto, Japan, and the second on 26 – 27 January 2017 in Paris, France. Members of the framework work on an equal footing to tackle tax avoidance, to improve the coherence of international tax rules, and to ensure a more transparent tax environment. In particular, the framework: – develops standards in respect of remaining BEPS issues; – will review the implementation of agreed minimum standards through an effective monitoring system; – monitors BEPS issues, including tax challenges raised by the digital economy; and – facilitates the implementation processes of the Members by providing further guidance and by supporting development of toolkits to support low-capacity developing countries. Joining the Inclusive Framework offers the opportunity to interested countries and jurisdictions to participate in the BEPS related work on an equal footing with other OECD and G20 countries. Being part of the Inclusive Framework on BEPS will facilitate the implementation, as well as the peer review processes of the Members, by providing them further guidance and support, including guidance covered by the Platform for Collaboration on Tax established among the IMF, the OECD, the UN and the World Bank Group.