OECD Progressing on Finishing Global Tax Treaty By End of June

Officials at the OECD are still making progress on readying a treaty to reallocate global taxing rights for countries to sign by the end of June, according to a top official at the organization.

The treaty involves introducing a new taxing right called Amount A that will reallocate profits over the largest multinational companies to market jurisdictions. However, the US must agree and implement Amount A for the measure to take effect.

Manal Corwin, director of the Organization for Economic Cooperation and Development’s Center for Tax Policy and Administration, said the US will be more likely to decide on ...