A project being undertaken by the Organisation for Economic Co-operation and Development to address perceived weaknesses in international tax rules that, in particular, allow multinational enterprises to avoid or minimise taxation.

Base erosion involves reducing the level of profits in a jurisdiction while profit shifting involves moving taxable profits from one (high-tax) jurisdiction to another (low-tax) one. At the core of the BEPS project is an action plan, commissioned by the G20, identifying 15 areas for tightened rules and greater international harmonisation to address these issues. The plan aims to prevent double non-taxation by introducing a new set of standards. To trace the development of the BEPS project from a multinational and UK perspective, see BEPS tracker.