OECD Tax Plan Is Bad Deal for Developing World, Argentina Says

Concerns of developing countries have largely been ignored in the OECD’s negotiations to overhaul the global tax system, making it a bad deal for them, Argentina’s Finance Minister said Thursday.

Argentina is among the 140 countries taking part in discussions being led by the Organization for Economic Cooperation and Development to rewrite how multinationals are taxed. The deal would reallocate a portion of the largest multinationals’ profits to more countries, known as Pillar One, and create a global minimum tax rate, known as Pillar Two. Negotiators are hoping to reach a final deal Friday, after they signed an interim agreement ...