Tax reform advocates doubt OECD plan

[unhappycamper]

http://www.dw.com/en/tax-reform-advocates-doubt-oecd-plan/a-18768301

G20 finance ministers are meeting in Peru to discuss cracking down on tax-dodging multinationals. But advocates of global tax reform say their plans fall short on transparency and might even make things worse.

Tax reform advocates doubt OECD plan
Chris Cottrell
08.10.2015

When the world's wealthiest countries announced an action plan earlier this week to stop major corporations from minimizing their tax bills , they also published a figure. A big figure, one to the tune of $240 billion (213 billion euros).

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No more loopholes

The shortcomings of global tax policy were made blatantly clear in 2014, when a consortium of investigative journalists exposed hundreds of secret tax deals between Luxembourg and some of the world's largest companies.

The "LuxLeaks" revelations sparked a public outcry, coming at a time of economic stagnation and belt-tightening in many countries following the global financial crisis.

Now the aim is to close the loopholes that have allowed multinationals to shift around profits and debt between subsidiaries in various countries in order to pay fewer taxes.