Connect with us

Hi, what are you looking for?

Finance

Tax dodgers could face global withholding tax, OECD says

Governments could slap multinational companies with precautionary levies if they refuse to respect a..

Governments could slap multinational companies with precautionary levies if they refuse to respect a future global tax rate.

The Organisation for Economic Co-operation and Development today proposed a withholding tax as a means to encourage firms to apply a minimum rate, which remains to be decided. It outlined the plan in a consultation document calling for comments from the public until December 2.

The minimum rate is part of a global drive to ensure companies pay their fair share in dues and stop them from shifting profits to countries with low or no corporate tax.

Countries including France have repeatedly criticized tech companies such as Facebook and Google for dodging its taxes.

“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. “These rules would be implemented by way of changes to domestic law and tax treaties.”

The OECD plans to publish the final designRead More – Source

Finance

In an interview with ET Now, Dabur India Director Mohit Burm..

Science

The 147th Open championship will be at Carnoustie Golf Club in Scotland. Jan Kruger/R&A Golfers ..

Tech

Enlarge Oliver Morris/Getty Images) In response to an Ars re..

Tech

Enlarge/ You wouldn't really want to use Nvidia's ..