Domestic, global taxation: Will Budget 2018 clear the haze around BEPS?

The government is already under pressure to lower the corporate tax rate to 25%, especially after US rates were cut from 35% to 21%

Base Erosion and Profit Shifting (BEPS), a collective effort of the Organization for Economic Cooperation and Development (OECD) and G20 nations, including India, aims to provide a road map to reform the global international tax framework and to protect legitimate tax base erosion in the context of aggressive international tax planning.

BEPS seeks to minimise gaps and mismatches in both domestic tax and international taxation, especially through planning around tax treaties, which allowed multinational companies (MNCs) to shift profits to low tax jurisdictions. 

The BEPS project, initiated in 2012, was rolled out in October 2015. To implement BEPS action points,