<h1>India to Sign Convention Against Tax Avoidance, Modifying 3000+ Treaties to Combat Base Erosion and Profit Shifting.</h1> The Union Cabinet of India has approved the signing of the Multilateral Convention to implement measures against Base Erosion and Profit Shifting (BEPS), a project by the OECD and G20. This Convention aims to address tax avoidance strategies that shift profits to low or no-tax locations, requiring changes to over 3000 bilateral tax treaties. The Convention modifies existing treaties to incorporate BEPS measures, ensuring profits are taxed where economic activities occur. It offers flexibility for countries to exclude specific treaties and opt out of provisions. India will sign the Convention, making provisional lists of tax agreements and reservations.