Possibilities of deal on cross-border tax reform by no means been increased

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© Reuters. FILE PHOTO: Exterior view of the Group for Financial Co-operation and Improvement, (OECD) headquarters in Paris September 3, 2009. REUTERS/Charles Platiau/File Photograph

PARIS (Reuters) – The possibilities of a worldwide deal on how multinational corporations are taxed have by no means been increased, though it would take till October to finalise an settlement, the OECD’s head of tax stated on Wednesday.

The Organisation for Financial Cooperation and Improvement (OECD) has been coordinating talks amongst 140 international locations for years, and goals to achieve a consensus by mid-2021, bolstered by the brand new U.S. administration’s help for a worldwide minimal company tax price.

“The possibilities of success have for my part by no means been increased as a result of there’s a actual want on all sides to wrap up this matter,” Pascal Saint-Amans informed the French Senate’s finance committee.

He added he didn’t suppose all points may very well be completely resolved by July and that it would take till October to finalise a deal.

The talks purpose to make the most important replace to worldwide guidelines for taxing cross-border commerce for a technology to take account of the rise of web giants like Google (NASDAQ:) and Fb (NASDAQ:).

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