Base erosion and profit shifting (BEPS) refers to tax avoidance strategies that exploit gaps and mismatches in tax rules to artificially shift profits to low or no-tax locations. Over 100 countries, (including Greece) and jurisdictions are collaborating to implement the BEPS measures and tackle BEPS.

Developed in the context of the OECD/G20 BEPS Project, 15 actions have been set out to equip governments with domestic and international instruments to address tax avoidance, ensuring that profits are taxed where economic activities generating the profits are performed and where value is created.

The BEPS Project aims to close loopholes that allow some companies to artificially shift income to locations where little or no economic activity takes place. Addressing BEPS collectively strengthens the current consensus-based framework for the taxation of cross-border activities. A system meant to eliminate double taxation cannot itself generate double non-taxation without running the risk of unravelling and being replaced by a patchwork of uncoordinated unilateral measures.