Briefing

    OECD proposes giving countries right to tax multinationals’ global profits

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    Governments would be able to tax a to-be-determined portion of firms’ worldwide earnings, even if they do not have a physical presence in the country, according to a consultation document released Wednesday. The measures would apply to companies with revenues of more than US$821 million that operate across international borders and have a “sustained and significant involvement in the economy.” The OECD is also proposing a “legally binding” dispute-settlement mechanism to arbitrate between companies and governments. (The Logic)

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