The term 'Base Erosion and Profit Shifting' is sometimes seen in the news in the context of

1. 'Base Erosion and Profit Shifting' (BEPS) refers to tax planning strategies used by multinational companies (MNCs) to exploit gaps and mismatches in tax rules across different countries. 2. These strategies allow MNCs to artificially shift profits to low-tax or no-tax locations where they have little or no economic activity, thus eroding the tax base of higher-tax jurisdictions. 3. The primary objective of international efforts related to BEPS (like the OECD/G20 BEPS Project) is to curb this form of tax evasion or aggressive tax avoidance by multinational companies. 4. Option (B) accurately describes the context of BEPS. 5. Options (A), (C), and (D) relate to different issues (mining operations, exploitation of genetic resources, environmental costs) and are not the subject of BEPS.