The term lsquo Base Erosion and profit shifting rsquo is sometimes seen in the news It refers to ........

Economic Affairs Tax System

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The term ‘Base Erosion and profit shifting’ is sometimes seen in the news. It refers to

Mining operation by multinational companies in resource-rich backward areas and moving profits to home nations.

Curbing of the tax evasion by multinational companies.

Exploitation of genetic resources of a country by multinational companies

Lack of consideration of environmental costs in the planning of development projects.

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Explanation:

..Second option is correct.
Base erosion and profit shifting (BEPS) refers to tax planning strategies used by multinational companies that exploit gaps and mismatches in tax rules to artificially shift profits to low or no-tax locations where there is little or no economic activity.The project headed by the OECD was initiated by the G20 in 2012.