Base erosion and profit shifting

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Science and technology

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What Wikipedia says

Base erosion and profit shifting (BEPS) is a category of corporate tax avoidance strategies used by multinationals to "shift" profits from higher-tax jurisdictions to lower-tax jurisdictions or no-tax locations where there is little or no economic activity, thus "eroding" the "tax-base" of the higher-tax jurisdictions using deductible payments such as interest or royalties.

Excerpt from the Wikipedia article “Base erosion and profit shifting”, under the CC BY-SA 4.0 license. Read the article on Wikipedia

Image: Brad Setser and Cole Frank cc-by-sa 4.0 (see the bottom of the article, the author fixed this for Wikipedia), CC BY-SA 4.0, via Wikimedia Commons.