Corporate Income Redistribution Plan May Increase Multinational Enterprises' Tax Burden by $150 Billion

(05 July 2021) At the beginning of July 2021, 130 countries and territories joined a plan, developed in negotiations coordinated by the OECD, to reform the international taxation system and ensure that multinational enterprises pay a fair share of tax wherever they operate. The plan is expected to be implemented starting in 2023. Taxing rights on more than $100 billion of profits are expected to be reallocated annually from multinational enterprises' home countries to the markets where they...