The world’s rich nations have drafted a set of technical principles which would revolutionise the corporate taxation of multinational companies and could raise $100bn in extra tax revenues around the world.
The blueprints of the new system are ready to be implemented if political agreement can be reached next year, the OECD said on Monday.
The Paris-based organisation has sought consensus between more than 135 nations on the reforms, which it said would enable tax authorities to collect up to 4 per cent more corporate tax.
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