Majority of the members OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting(including India)adopted 1st July 2021. The proposed solution consists of two components-
About Base erosion and profit shifting (BEPS)
Base erosion and profit shifting (BEPS) refers to tax planning strategies used by multinational enterprises that exploit gaps and mismatches in tax rules to avoid paying tax. Working together within OECD/G20 Inclusive Framework on Base erosion and profit shifting (BEPS), 139 countries and jurisdictions are collaborating on the implementation of 15 measures to tackle tax avoidance, improve the coherence of international tax rules and ensure a more transparent tax environment.
Sources : PIB