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India joined OECD/G20 Inclusive Framework on BEPS. What is the expansion of BEPS?
A)
Base Expansion and Profit Shifting
B)
Base Erosion and Profit Shifting
C)
Business Erosion and Profit Shifting
D)
Business Expansion and Profit Shifting

Correct Answer : Option (B) - Base Erosion and Profit Shifting


India joined the global tax deal under the G20-OECD Inclusive Framework on Base Erosion and Profit Shifting (BEPS).
It seeks to reform international tax rules and ensure that multinational companies pay their fair share wherever they operate. However, when the global tax regime is implemented, India will have to roll back the equalisation levy that it imposes on MNCs such as Google, Amazon and Facebook.

Published On : July 18, 2021
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