OECD aims to rewrite global tax rulebook
- 9 years ago
OECD has unveiled further proposals that aim to crack down on companies that avoid tax.
The package of 15 proposed reforms will be presented to G20 finance ministers later this week in Peru; it is the result of two years of work amid public anger at global companies that shift profits to lower tax jurisdictions.
The OECD’s Base Erosion and Profit Shifting (BEPS) project looks to tackle the tricks employed by multinationals to pay less tax, depriving countries of much-needed revenue.
The Paris-based body says global firms with annual revenues of more than €750m should report their activities on a country-by-country basis.
“The financial crisis was some form of weak up call and it was time to put an end to what we call tax heaven or to put an end to this tax avoidance. You know tax avoidance is legal,” Pascal Saint-Amans, the head of the OECD’s Centre for Tax Policy, told euronews in an interview.
“We are now coming up with a plan which has been agreed by 44 countries, all the
The package of 15 proposed reforms will be presented to G20 finance ministers later this week in Peru; it is the result of two years of work amid public anger at global companies that shift profits to lower tax jurisdictions.
The OECD’s Base Erosion and Profit Shifting (BEPS) project looks to tackle the tricks employed by multinationals to pay less tax, depriving countries of much-needed revenue.
The Paris-based body says global firms with annual revenues of more than €750m should report their activities on a country-by-country basis.
“The financial crisis was some form of weak up call and it was time to put an end to what we call tax heaven or to put an end to this tax avoidance. You know tax avoidance is legal,” Pascal Saint-Amans, the head of the OECD’s Centre for Tax Policy, told euronews in an interview.
“We are now coming up with a plan which has been agreed by 44 countries, all the