The BEPS Action Plan, or Base Erosion and Profit Shifting Action Plan, is an initiative developed by the OECD to address tax avoidance strategies that exploit gaps and mismatches in tax rules. The main aim of this plan is to ensure that profits are taxed where economic activities occur and value is created, thus promoting fairness in international taxation. This framework highlights issues like transfer pricing, digital economy taxation, and harmful tax practices among countries.
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