Australia does not provide tax incentives for investment abroad. However, Australiaâ€™s participation exemption regime, which exempts business profits returned to Australia, may be viewed as an incentive to invest offshore. The participation exemption allows a tax exemption for active foreign business income of a corporation resident in Australia and for dividends received by an Australian corporation from foreign subsidiaries actively engaged in foreign business. Buttressed by anti-tax avoidance rules, this regime may provide some incentive for investment in developing countries hoping to attract investment by use of various tax incentives. Australiaâ€™s main inbound and outbound investment is with the United States and the United Kingdom; its main outbound investment in developing countries has been primarily in BRICS, Mexico, and the ASEAN regions.