— 1 minute read
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string(57) "130 countries join framework for international tax reform"
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John Buckley
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A
The OECD, which represents some of the largest world economies, announced on Thursday that 130 countries had agreed to a two-pillar framework that would force multinational enterprises to pay their fair share of tax by implementing a two-pillar framework.
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The first pillar proposes a fairer distribution of profits and taxing rights of some of the world’s largest multinational enterprises, including digital companies, by in some cases re-allocating taxing rights from a company’s home country to the markets where they conduct their business and earn the majority of their profits, regardless of whether the business has a physical presence there.