PARIS—New country-by-country data on big multinational companies’ tax reporting indicates they tend to book profits in low tax financial hubs rather than where they really do much of their business, the Organisation for Economic Cooperation and Development (OECD) said on Wednesday.
The OECD said the data confirmed economists and tax experts long-held suspicions that multinationals were legally exploiting loopholes in international tax rules to park profits in low tax jurisdictions.
