Major crackdown planned for tech’s biggest alleged tax dodgers

OECD Tech Tax Dodging Plan

Many governments are getting fed up with major tech companies dodging taxes and now it seems that the Organization for Economic Cooperation and Development (OECD) is planning to do something about it. Bloomberg reports that the OECD has proposed a plan to crack down on corporate tax dodging that will “develop rules over the next two years preventing companies from escaping taxes by putting patent rights into shell companies, taking interest deductions in one country without reporting taxable profit in another, and forcing them to disclose to regulators where they report their income around the world.” Google and Apple have been the most frequent targets of government hearings over alleged tax dodging and both companies have long insisted that their tax avoidance methods are perfectly legal under current laws.

Source:
Bloomberg
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