OECD Rolls Out Initiative for Global Tax Overhaul

The Organization for Economic Cooperation and Development has proposed new international tax rules designed to put an end to the practices multinationals often use to shift profits to low-tax locales. The OECD is proposing a series of actions and guidelines as part of this comprehensive global overhaul of tax rules. All of the organization’s member countries have agreed to adopt the new rules in the initiative, which is called the Base Erosion and Profit Shifting Project.