The tax rules need rewriting for the digital age, and finally the world’s governments are doing something about it. On Friday, the Organization for Economic Cooperation announced that 137 governments around the world have agreed to launch a rewrite of tax rules for multinational companies the digital age.
Tax officials from the countries in question have agreed to meet in Paris for negotiations about how this might work. The aim is to crack down on the kind of tax avoidance that can happen when multinationals shuttle their profits around to different countries.