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Trump win puts global corporate tax deal ‘in peril’
Experts believe that countries will now be unlikely to apply rules over fears of retaliation from Trump-led administration
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Attempts to stop some of the world’s biggest companies shifting profits across borders to avoid paying tax are “in peril” following Donald Trump’s definitive win.
PHOTO: REUTERS
Emma Agyemang and Paola Tamma
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Attempts to stop some of the world’s biggest companies shifting profits across borders to avoid paying tax are “in peril” following Donald Trump’s definitive win in the US presidential election,
A global deal inked at the Paris-based Organisation for Economic Cooperation and Development (OECD) in 2021 and partly introduced by several countries – including EU member states, the UK, Norway, Australia, South Korea, Japan and Canada – earlier in 2024 was expected to raise the tax take from the world’s biggest multinationals by up to US$192 billion (S$255 billion) a year.
