Arab Today, arab today oecd countries agree to share info to combat corporate tax avoidance
Last Updated : GMT 10:57:56
Arab Today, arab today
Arab Today, arab today

OECD countries agree to share info to combat corporate tax avoidance

Arab Today, arab today

Arab Today, arab today OECD countries agree to share info to combat corporate tax avoidance

Under the new rules, multinationals will have to report country by country
Paris - AFP

 More than 30 OECD countries signed an agreement to share information about multinationals in a push to boost transparency following public anger over large corporations playing the system to lower their tax bills.

Under the new rules, multinationals will have to report country by country how much they make and what they pay in taxes.

The move is aimed at stopping firms from using complicated loopholes or moving money across borders to minimise or avoid paying corporate tax.

The head of the OECD economic grouping, Angel Gurria, said the agreement was a move towards "the goal of ensuring that companies pay their fair share of tax".

"Country-by-country reporting will have an immediate impact in boosting international co-operation on tax issues, by enhancing the transparency of multinational enterprises' operations," he said in a statement.

The exchange of information will start in 2017 and give tax administrations "a single, global picture" on the activities of big businesses, he added.

Australia, Britain, Chile, France, Japan, Luxembourg, Mexico and Switzerland were among the 31 signatories.

The United States had yet to sign up to the accord but would do so in the near future, the OECD said.

The proposals are part of a 15-point OECD package agreed by leaders at a G20 summit in Antalya, Turkey in November.

The OECD calculates that national governments lose $100-240 billion, or 4-10 percent of global tax revenues, every year because of the tax-minimising schemes of multinationals such as Apple, Facebook and Amazon.

Google agreed on Friday to pay £130 million ($185 million, 172 million euros) in back taxes to Britain after a scathing government inquiry into the search giant's tax arrangements.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today oecd countries agree to share info to combat corporate tax avoidance Arab Today, arab today oecd countries agree to share info to combat corporate tax avoidance

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday