The OECD are promising big business – nothing will change

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Rumour reaches me that Pascal St Amans of the OECD when speaking at the pro-tax haven and anti-corporation tax Oxford Centre for Business Taxation yesterday confirmed that there was no prospect of the OECD changing the rules of international taxation to replace the utterly discredited arm's length transfer pricing rules that have permitted so much recent tax abuse and which, in the OECD's own words, threaten the integrity of the world's corporate tax systems.

In which case it looks like the OECD wants the threat to become a reality.

It also looks like Jesse Drucker's suggestion in Bloomberg that the OECD has been captured by large corporations to act in their interests is right.

And in the meantime Osborne will say tomorrow that his support for the OECD means he's tackling tax avoidance, which is and always have been a starightforward misrepresentation of the truth.