 "Piyush Goyal")
The Cabinet on Wednesday gave its go ahead for signing of a multilateral convention to implement tax treaty to check evasion by preventing Base Erosion and Profit Shifting (BEPS).
Briefing reporters after the Cabinet meeting, Power Minister Piyush Goyal said the convention was an outcome of the OECD/G20 BEPS Project to tackle BEPS through tax planning strategies that exploit gaps and mismatches in tax rules to artificially shift profits to low or no-tax locations, resulting in little or no overall corporate tax being paid.
The final BEPS project identified 15 actions to address BEPS in a comprehensive manner.
Briefing reporters after the Cabinet meeting, Power Minister Piyush Goyal said the convention was an outcome of the OECD/G20 BEPS Project to tackle BEPS through tax planning strategies that exploit gaps and mismatches in tax rules to artificially shift profits to low or no-tax locations, resulting in little or no overall corporate tax being paid.
The final BEPS project identified 15 actions to address BEPS in a comprehensive manner.
