OECD head: Biden’s global tax proposal ‘a game changer’

PARIS (AP) — The new head of the Organization for Economic Cooperation and Development says he is “quietly optimistic” about reaching an international deal on taxing multinational companies. OECD Secretary-General Mathias Cormann made the remarks on Tuesday after taking over from Angel Gurria, who had led the Paris-based organization since 2006. More than 140 countries are taking part in talks convened by the OECD that focus on a global minimum for corporate taxation to deter big companies from shifting their profits to low-tax jurisdictions. Cormann called U.S. President Biden’s recent proposal a “game changer.”  Biden’s approach includes a 15% global minimum corporate tax and taxing the biggest multinationals even in countries where they have no physical presence.