ECONOMY - FINANCE - BUSINESS / Taxation

OECD says multinational companies continue to be taxed at low levels despite high tax rates

Brussels, 21/11/2023 (Agence Europe)

In its latest report published on Tuesday, 21 November, the Organisation for Economic Co-operation and Development (OECD) has revealed that multinational companies continue to report low-taxed profits, even in jurisdictions with high corporate tax rates.

Approximately 37.1% of global net profits, that being USD 2,411 billion out of a total of USD 6,503 billion, are taxed at effective tax rates below 15%. However, 56.8% of all of these profits taxed below 15% are made in high-tax...