The OECD has issued a press release saying:
As they then say:
But there's a problem - which is that if the OECD was really serious about tax avoidance internationally by multinational corporations then it would back country-by-country reporting - and to be candid, despite having a working group on the subject it seems to me it is doing all it can to block progress on this issue.
So the words ring hollow. If Jeffrey Owens is serious he has to do three things:
1) Give civil socitety equal representation on his working group on country-by-country reporting
2) Allow civil society to take expert representation with them - a privilege only granted to business right now
3) Resource those from developing countries who want to be represneted but cannot afford to turn up through lack of funding.
Then I'll believe the OECD is really serious about multinational corporation tax avodiance. Until then it's all lip service.
PS There's a curious little foot note that says:
For instance, based on its disclosure rules for tax avoidance transactions, the UK was able to cut off GBP 12 billion in avoidance opportunities.
But of course corporates deny my claim that this practice is prevalent.