At the 2012 G20 Los Cabos summit , it was agreed that the OECD undertake a project to combat base erosion and profit shifting ( BEPS ) activities by corporates . An OECD BEPS Multilateral Instrument , consisting of " 15 Actions " designed to be implemented domestically and through bilateral tax treaty provisions , were agreed at the 2015 G20 Antalya summit . The OECD BEPS Multilateral Instrument ( " MLI " ) , was adopted on 24 November 2016 and has since been signed by over 78 jurisdictions ; it came into force in July 2018 . The MLI has been criticised for " watering down " several of its proposed initiatives , including country – by – country – reporting ( " CbCr " ) , and for providing several opt-outs which several OECD and EU tax havens availed of . The US did not sign the MLI
2015 G20 Antalya summit
2015 G20 Antalya summit
Tax haven