What is BEPS and OECD/G20 BEPS PROJECT?
BEPS refers chiefly to instances where the interaction of different tax rules leads to some part of the profits of MNEs not being taxed at all. It also relates to arrangements that achieve no or low taxation by shifting profits away from the jurisdictions where the activities creating those profits take place.
It should be stressed that such planning by large MNEs is rarely illegal. In some cases, it is simply a matter of exploiting the unintended mismatches between the rules on the taxation of MNEs put in place by different tax jurisdictions. In other cases, avoidance is possible because internationally developed principles have not kept pace with the global integration of the economy. No, or low, taxation is not a cause for concern per se, but it becomes so when it is associated with practices that artificially segregate taxable income from the activities that generate it. In these cases, what matters is when income from cross-border activities goes untaxed anywhere.
The OECD/G20 BEPS Project
BEPS is a global issue that requires global solutions. The international nature of tax planning means that unilateral and unco-ordinated actions by countries will not suffice and may make things worse. The current OECD/20 Project, designed to address the issues that lead to BEPS, is a collective international effort which stands to assist both developed and developing countries.
OECD Action plan
At the request of the G20, the OECD developed an Action Plan to tackle BEPS in a comprehensive manner. The Action Plan was fully endorsed by the G20 Finance Ministers at their meeting of 19 July 2013 and by the G20 Leaders at their meeting on 5-6 September 2013, with a mechanism to enrich the Plan as appropriate.
Working together in the OECD/G20 BEPS Project, over 60 countries jointly delivered 15 Actions to tackle tax avoidance, improve the coherence of international tax rules and ensure a more transparent tax environment.
The BEPS package provides 15 Actions that equip governments with the domestic and international instruments needed to tackle BEPS. Countries now have the tools to ensure that profits are taxed where economic activities generating the profits are performed and where value is created. These tools also give businesses greater certainty by reducing disputes over the application of international tax rules and standardizing compliance requirements.
Final 2015 BEPS Reports
Final BEPS package for reform of the international tax system to tackle tax avoidance [read]
Inclusive Framework on BEPS 
Following the release of the BEPS package in October 2015, G20 Leaders urged its timely implementation and called on the OECD to develop a more inclusive framework (IF) with the involvement of interested non-G20 countries and jurisdictions, including developing economies.
The OECD established the IF on BEPS in June 2016 so that all interested countries and jurisdictions can work together. Over 115 countries and jurisdictions1 have already joined on an equal footing in developing standards on BEPS-related issues and reviewing and monitoring its consistent implementation.
More on Inclusive Framework
 Report to G20 developing working group on the impact of BEPS in low income countries, part 1 (July 2014)
 About the Inclusive Framework on BEPS; http://www.oecd.org/tax/beps-about.htm#BEPSpackage
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