OECD Deal on Life Support Shows Multilateralism, Taxes Don’t Mix

The OECD-led global tax deal is in shambles.

The pact started as a Utopian idea, a “two-pillar solution” for 140 countries that was meant to stop companies from moving money around to avoid paying taxes. But what set out to salve hundreds of countries wound up appeasing almost no one.

US Treasury Secretary Janet Yellen has pointed the finger at India and China. India, Australia, Canada, and New Zealand aren’t happy with the transfer pricing part of the deal. The Swiss are still wishy-washy on that part, too.

Canada has broken away to impose taxes on US tech companies, sending ...