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of <h1>OECD Action Plan 13: MNEs Must Report Global Income and Taxes to Combat BEPS and Enhance Tax Transparency.</h1> Globalization has increased trade and foreign investment, benefiting economies but also facilitating tax avoidance by multinational enterprises (MNEs) through Base Erosion and Profit Shifting (BEPS). BEPS reduces tax revenues and undermines tax systems' integrity. The G-20 tasked the OECD with addressing this issue, resulting in a 15-action plan to tackle BEPS. Key actions include ensuring coherence in domestic and international tax rules, reinforcing substance requirements, and improving transparency. The OECD's Action Plan 13 mandates MNEs to prepare a Country-by-Country (CbC) report, detailing global income, taxes, and economic activities, aiding tax authorities in assessing revenue risks. Indian tax laws require MNEs with Indian entities to notify and report CbC information. Recent amendments designate specific income tax authorities for these purposes.
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