One of the four minimum standards of the Base Erosion and Profit Shifting (BEPS) project is BEPS Action 5. The Organisation for Economic Cooperation and Development (OECD) came up with a BEPS project to handle the problem of BEPS.You can read about the Base Erosion and Profit Shifting (BEPS) – Issues, Measures taken by India in the given link.
Base Erosion and Profit Shifting (BEPS) is a big problem faced by the developing countries as they are heavily dependent on corporate taxes. Base Erosion and Profit Shifting is not illegal because it mainly utilises the different tax rules and loopholes in the taxation system. The BEPS initiative of OECD seeks to close the loopholes in the international taxation system.
Further readings:
- Taxation in India – Direct taxes, Indirect Taxes, Features of Taxation System
- Organisation for Economic Co-operation and Development [OECD] – Objectives, Member Countries, Responsibilities
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Related Links |
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National Institution for Transforming India (NITI Aayog) – A Brief Overview |
Securities And Exchange Board Of India (SEBI) – Functions & Powers |
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