OECD Director of the Center for Tax Policy Pascal Saint- Amans in Lisbon in November 2019. The proposal is the second part of sweeping change set forth by the OECD, who in October, introduced a unified framework aimed at reducing corporate tax avoidance and evasion. “A minimum tax rate on all income reduces the incentive for taxpayers to engage in profit shifting and establishes a floor for tax competition among jurisdictions,” the OECD said in a statement. Not only is the OECD taking aim at profit shifting, U.S. companies are staring down the specter of another potential change in their own backyard. Additionally, government authorities around the world have become much more transparent in sharing corporate tax information on a cross-border basis.

Source: Forbes December 04, 2019 14:15 UTC