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Meanings and definitions for BEPS
What does BEPS stand for? What does BEPS mean?
- Base erosion and profit shifting (BEPS) refers to corporate tax planning strategies used by multinationals to "shift" profits from higher-tax jurisdictions to lower-tax jurisdictions, thus "eroding" the "tax-base" of the higher-tax jurisdictions.The Organisation for Economic Co-operation and Development (OECD) define BEPS strategies as also "exploiting gaps and mismatches in tax rules"; however, academics proved corporate tax havens (such as Ireland, the Caribbean, Luxembourg, the Netherlands, Singapore, Switzerland, and Hong Kong), who are the largest global BEPS hubs, use OECD–whitelisted tax structures and OECD–compliant BEPS tools.Corporate tax havens offer BEPS tools to "shift" profits to the haven, and additional BEPS tools to avoid paying taxes within the haven (e.g.
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