OECD taps former U.S. official to head tax activities

The Organization for Economic Co-operation and Development on Friday named Manal Corwin, a KPMG partner and former US Treasury Department official, as head of tax operations. As head of tax for the OECD, based in Paris, Corwin will lead efforts to coordinate the implementation of the largest-ever overhaul of international corporate tax rules.

The reforms, which are expected to come into force in 2024 after being agreed in about 140 countries in 2020, are aimed at better accounting for the emergence of big digital companies such as Apple and Amazon that can profit in low-tax countries. The first pillar of the two-track reform is to reallocate 25% of profits from the world’s largest multinationals for taxation in the countries where their customers are located, regardless of their physical location. purpose.

The second pillar is to set the lowest global corporate tax rate at 15%. Prior to joining KPMG in 2013, Corwin was a senior international relations officer at the US Treasury under the Obama administration.

(This article is not edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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