By: The Guardian
April 29, 2021
President Joe Biden’s proposals to stop multinationals from shifting profits to tax havens are a “once in a lifetime” chance to end tax abuse, and could be signed within months, the head of the Organisation for Economic Co-operation and Development has said.
Ángel Gurría, who has been coordinating international negotiations on Biden’s plan as secretary-general of the OECD, said a deal was within striking distance and could be signed this summer after decades of limited progress. It follows a shift by the White House to call time on a “race to the bottom” between nations undercutting each other on tax rates to attract businesses to locate within their borders.
Writing in the Guardian before stepping down from the Paris-based institution next month, Gurría said: “It is a once in a lifetime opportunity to achieve a complete overhaul of the international tax system, to both provide more tax certainty for businesses, as well as ensure everyone pays their fair share of taxes.