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Corporate tax chiefs are trying to assess the potential implications of a proposal for a new global tax system for consumer-facing businesses, an effort that is being complicated by what some companies describe as a lack of critical details.
The Organization for Economic Cooperation and Development, which is running the initiative, was scheduled to meet Thursday and Friday in Paris to discuss a proposal that would set a standard tax rate for a company’s global operations and allow individual governments to tax profits above that based on sales accounted for by each country.
The new rules would represent a departure from current regulations that look at where companies are based and where they hold patents and brands. (Read More)
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