OECD about to achieve breakthrough in tax reform

With the largest international tax reform in decades, the Organisation for Economic Co-operation and Development (OECD) wants to regulate how global corporations are taxed. Now the 137 countries involved have come close enough to a consensus that a breakthrough is imminent.

The German Finance Minister Olaf Scholz has stated that "we have taken a huge step forward with the unanimous agreement on the blueprints for reforming global corporate taxation" and added that in his opinion the OECD "will be able to reach final agreement on this major reform project by summer next year. After all, the project still needs political approval, and so far the green light from the United States in particular has been lacking".