MOSCOW (Sputnik) — Russia has joined a multilateral convention that allows to apply in practice the norms of international treaties to prevent tax evasion, the Finance Ministry said on Wednesday.
"The Russian Federation has joined a multilateral convention, comprising 67 states and jurisdictions, that provides for the application of international treaties on taxation with the aim of preventing the erosion of the tax base and the shifting of profits from taxation," the ministry said.
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. Under the inclusive framework, over 100 countries and jurisdictions are collaborating to implement the BEPS measures and tackle BEPS.
