Richard Murphy has just noted on his blog that the OECD is now estimating that 70% of world trade is happening between subsidiaries of the same multinational corporations. The former OECD estimate had been 60%.
This means that the profits resulting from 70% of the world’s trade isn’t being reported on a country-by-country basis – making it very easy for multinational corporations to manipulate their taxes. This is why the Task Force advocates country-by-country reporting.
Disclaimer: Unless specifically stated to be the views of the Task Force, the opinions expressed on this blog are solely the opinions of the individual blogger and are not necessarily those of the Task Force on Financial Integrity & Economic Development.
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The yawning gap between the transparency rhetoric of companies and the reality of their actions ...
February 10, 2012
In his State of the Union address less than a month ago President Obama brought ...
February 10, 2012
When the G20 signed the Convention on Mutual Administrative Assistance in Tax Matters in November ...
February 9, 2012
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