OECD Proposes Plan for Crackdown on Companies’ Tax Avoidance
This article is for subscribers only.
The Organization for Economic Cooperation and Development proposed a blueprint for cracking down on tax-dodging strategies used by companies such as Google Inc., Apple Inc. and Yahoo! Inc.
German Finance Minister Wolfgang Schaeuble called the OECD’s plan a “major step.” The proposal aims to develop rules over the next two years preventing companies from escaping taxes by putting patent rights into shell companies, taking interest deductions in one country without reporting taxable profit in another, and forcing them to disclose to regulators where they report their income around the world.