In the United States, 60 of the 500 largest firms, including Amazon, Netflix and General Motors, paid no taxes whatsoever in 2018.
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In the face of global outrage at the low or no taxes paid by some of the world's largest multinationals, the Group of 20 appointed the Organization for Economic Co-operation and Development a few years ago to design alternatives to end these abuses. In response, on Oct. 9, the OECD put forward proposals for a new international tax system that could be imposed on the world in the coming decades.This way, it shows low profits or deficits where taxes are relatively high -- even if it is in those countries that the firms undertake the bulk of its activities -- and report high profits in jurisdictions where taxes are very low, or even zero -- even if the firm has no customers there.The first is to establish clearly where corporate profits are generated for tax purposes.The share of profits that would be redistributed internationally would be limited to the so-called "residual" share of the multinationals' total profits.
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