PARIS — Rewriting cross-border corporate tax rules could increase governments' tax revenues by up to 4%, or $100 billion annually, the Organisation for Economic Cooperation estimated on Thursday. The OECD offered the estimates as food for thought for the nearly 140 governments that agreed earlier this month to negotiate the first major update international corporate tax rules by the end of the year. Many governments are frustrated that the rise of big internet companies like Google, Facebook and Amazon is depriving them of revenue, because they can legally book profits in low-tax countries regardless where their customers are. The Paris-based OECD said that the revenue gains it expected from the overhaul of the rules were "broadly similar across high, middle and low-income economies".

Source: International New York Times February 13, 2020 14:47 UTC