As we know from the Paradise Papers, the Panama Papers, and the Pandora papers, the rich, the powerful, and companies can avoid paying their full share of taxes through offshore accounts and shell companies. Around 100-240 billion USD is lost in revenue annually worldwide through base erosion and profit shifting (BEPS) practices. This is equivalent to 4-10% of the global corporate income tax revenue. In response to that, the OECD came up with the BEPS initiatives.

Through the OECD/G20 Inclusive Framework on BEPS, over 135 nations and jurisdictions work together to put the BEPS package into place.

The BEPS package has 15 Actions that give governments the tools they need to stop tax avoidance, both domestically and internationally. One of those is NTJ.

Welcome to The Fully Compliant, a podcast by Trans World Compliance. Today we present "A closer look at NTJ" with Dave Olenzak, President and Founder at TWC.