Existing tax rules need updating as they can be "abused" by multinational companies, according to the Organisation for Economic Co-operation and Development (OECD).
It has launched a plan to update and co-ordinate national tax laws.
There was criticism in the UK earlier this year when it emerged that Google, Starbucks and Amazon paid little tax despite having big UK operations.
Following that criticism Starbucks agreed to pay more tax.
The OECD came up with the plan at the request of the G20 group of leading nations. Finance ministers start a two-day meeting in Moscow on Friday.
OECD secretary-general Angel Gurria said: "International tax rules, many of them dating from the 1920s, ensure that businesses don't pay taxes in two countries - double taxation
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