PARIS—Dozens of world economies are close to adopting sweeping changes to international tax rules that could end tax-dodging by powerful multinationals—practices believed to deprive governments of up to $240 billion every year.
The Organization for Economic Cooperation and Development released Monday a plan that, among other things, aims to end tax shelters and require companies to pay taxes in the countries where they earn profits.
Aid groups say it isn’t tough enough and won’t start fast enough. And business groups fear the rules won’t be applied the same everywhere and will unfairly punish some companies.
But everyone agrees it’s an ambitious plan. The OECD says its proposal represents “the most fundamental changes to international tax rules in almost a century.”
