OECD Reports Amending or Abolishing Over 300 Harmful Tax Regimes

More than 300 preferential tax regimes that encourage companies to shift their profits and avoid paying tax have been amended or abolished, according to an OECD report released Saturday.

Only a few harmful tax regimes are still under review, the Organization for Economic Cooperation and Development said.

In its report released to the Group of 20 finance ministers, OECD described the progress of its first project to address base erosion and profit shifting, or BEPS. The update comes after a request from the G20 South African presidency to provide a “stock take” on how the BEPS project has been applied ...