The OECD's Base erosion and profit shifting (BEPS) Global Initiative
( Pp. 295-301)

After 2008 Global Financial Crisis many states realized the need to amend global tax rules. This prompted a qualitatively new stage of cooperation in combating some harmful practices distorting the structure of the world economy - the Base Erosion and Profit Shifting (BEPS). An additional factor that affects the spread of this phenomenon is the accelerating globalization and digitalization of the economy. Thus, the economic turnover of digital products is carried out without reference to any jurisdiction, and their intangible nature makes them suitable for BEPS purposes. An additional factor that contributes to the actualization of countering BEPS practices is the COVID-19 outbreak, the consequences of which can be eliminated only with significant public investment in the economy. In this regard, the problem of multinational enterprises (MNEs) avoiding taxation using «gray schemes» is increasingly perceived as incompatible with the ideals of social justice and goes against the needs of the population of most countries. The 2020 is not only challenging in the context of the fight against the epidemic, but also key year in the mechanism for evaluating activities related to the Global Initiative of countering BEPS. The aim of the article is to observe the Action Plan and the main actions (measures) that are being implemented by states and tax jurisdictions to counter BEPS under the auspices of the Organization for Economic Cooperation and Development (OECD), as well as the results of the implementation of these measures at the end of 2020. Special attention was paid on ensuring the active and equal participation of developing countries in this initiative. The results of the study, reflected in the conclusion, show the need to counter BEPS phenomenon, to further adopt «multilateral instruments» such as the 2016 Paris Convention and soft law instruments, to hold public consultations on the measures taken, and to help developing countries in their implementation.

Avshalumov M.A., (2021), THE OECD'S BASE EROSION AND PROFIT SHIFTING (BEPS) GLOBAL INITIATIVE. Economic Problems and Legal Practice, 2 => 295-301.

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tax minimization, profit shifting, digitalization, OECD, developing countries.