" GLOBAL tax system.." *Link*

"...The Organization for Economic Cooperation and Development, which is running the initiative, was scheduled to meet Thursday and Friday in Paris to discuss a proposal that would set a standard tax rate for a company’s global operations and allow individual governments to tax profits above that based on sales accounted for by each country.

The new rules would represent a departure from current regulations that look at where companies are based and where they hold patents and brands.

Dubbed the “unified approach,” the rules would apply to companies with annual revenues of more than €750 million ($830 million) in consumer-facing industries, a broad term that includes technology companies—which have been in the spotlight for their tax practices—and other firms selling services and goods to consumers.

Companies—some of which are still working through the OECD’s 2016 framework on base erosion and profit shifting, which abolished various tax loopholes, or the 2017 U.S. corporate tax overhaul—could be required to again make sweeping changes to their global tax structure within a short period..." (HEADQUARTERED IN PARIS)