Latest Organization for Economic Co-operation and Development News

EXPLAINER: Curbing tax avoidance by multinational companies

Jun. 11, 2021 13:15 PM EDT

FRANKFURT, Germany (AP) — How can governments keep multinational companies from avoiding taxes by shifting profits to subsidiaries in low-tax countries? Years of international discussion over the issue gathered momentum after U.S. President Joe Biden proposed a global...

EXPLAINER: Curbing tax avoidance by multinational companies

Jun. 04, 2021 06:57 AM EDT

FRANKFURT, Germany (AP) — How can governments keep multinational companies from avoiding taxes by shifting their profits to low-tax countries? For nearly a decade, nations have grappled with that question, seeking to deter companies from legally avoiding tax by...

OECD head: Biden's global tax proposal 'a game changer'

Jun. 01, 2021 15:35 PM EDT

PARIS (AP) — The new head of the Organization for Economic Cooperation and Development said Tuesday that he is “quietly optimistic” about reaching an international deal on taxing multinational companies, and he called U.S. President Biden's recent proposal a “game changer." ...

Forecast: Global economy rebounding, faces multiple threats

May. 31, 2021 07:42 AM EDT

FRANKFURT, Germany (AP) — The global economic rebound from the pandemic has picked up speed but remains uneven across countries and faces multiple headwinds. Most worrisome: the lack of vaccines in poorer nations, which could lead to new virus variants and more stop-and-go lockdowns. ...

US proposes tax of at least 15% on global corporate profits

May. 21, 2021 11:22 AM EDT

WASHINGTON (AP) — The U.S. Treasury Department supports a global minimum corporate tax rate of at least 15% — below the 21% minimum it has been seeking to impose on the foreign profits of U.S.-based companies. The offer comes as the Organization for Economic...

US proposes 15% minimum tax on global corporate profits

May. 20, 2021 19:27 PM EDT

WASHINGTON (AP) — The U.S. Treasury Department said Thursday that it supports a global minimum corporate tax rate of at least 15% — below the 21% minimum it has been seeking to impose on the foreign profits of U.S.-based companies. The offer comes as the Organization...

Yellen calls for minimum global corporate income tax

Apr. 05, 2021 17:23 PM EDT

WASHINGTON (AP) — U.S. Treasury Secretary Janet Yellen on Monday urged the adoption of a minimum global corporate income tax, an effort to at least partially offset any disadvantages that might arise from the Biden administration's proposed increase in the U.S. corporate tax rate. ...

Russian entrepreneurs adapt to virus lockdown challenges

Apr. 02, 2021 03:40 AM EDT

MOSCOW (AP) — Valentina Konstantinova remembers well when Russia locked down for the coronavirus a year ago. Her 18-room boutique hotel, called Skazka, or “Fairytale,” was full, and within a couple of days, it had only one guest left. “I still don’t understand...