OECD Says Earlier Profit-Shifting Standards Should Stay for Now

It’s too soon to tell whether implementation of the global minimum tax means that previous rules meant to combat corporate profit-shifting can be rolled back, an OECD official said Monday.

The view among countries is “let’s wait and see” on any scaling back of the so-called “BEPS 1.0" efforts, said Pierce O’Reilly, deputy head of the tax policy and statistics division and head of the business and international taxes unit at the OECD.

Base Erosion and Profit Shifting 1.0 was the OECD’s first attempt, more than a decade ago, to address corporate profit-shifting from high-tax to low-tax ...