Apr 052015
National tax laws are struggling to keep pace with the rise of the digital economy and the progress of multinational companies. These factors leave gaps that are susceptible to misuse and lead to cases of double non-taxation, which undermine the integrity and fairness of tax systems around the world. The Base Erosion and Profit Shifting (“BEPS”) Project seeks to address this problem through measures that focus on three core principles — coherence, substance and transparency — and will result in fundamental changes in international tax standards.