Since the “great recession” of the late 2000s there has been increasing focus from governments and their tax authorities on tax regimes that may provide companies the opportunity to realise profits in jurisdictions that have lower tax rates than those of larger economies. As a result of these concerns, the OECD engaged in the Base Erosion and Profit Shifting (BEPS) Project to examine the issues and provide solutions to governments to potentially move towards tax harmonisation and a level playing field.
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