G7 tax agreement needs to avoid over complexity

With G7 countries setting out provisional plans for a 15% global corporate tax rate, George Bull, tax consultant at RSM, considers the potential shortfalls and challenges of taking a global approach

For eight long years since 2013, the G20 and the OECD have been working on their base erosion and profit shifting (BEPS) project to set up an international framework to combat what they saw as tax avoidance by multinational corporations. During that period, calls for greater transparency and responsibility in taxation have increased but, despite substantial efforts by the OECD, definitive progress in creating the new international framework has remained elusive.

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