In writing that, we did not wish to call into question the existence of tax treaties to avoid double taxation, or tax information exchange agreements. As we said, the purpose of the BEPS framework is to automate that process, simplify it and include a maximum number of countries. The fact that this exists is a good thing. The problem, as we see it, is that those agreements are sometimes concluded with countries where given their policies, the effect of those agreements is to reduce tax bills.
How is it that tiny Mediterranean or Caribbean countries sign these agreements? These are countries where the tax rate is negligible, and they are not economic powers. How is it that so much money finds its way there and tax treaties authorize this?
There is a problem there. To change that, we have to determine exactly what is done in notorious and well-known tax havens.