Attempts to stop some of the world’s biggest companies shifting profits across borders to avoid paying tax are “in peril” following Donald Trump’s definitive win in US presidential elections, experts said.
A global deal inked at the Paris-based OECD in 2021 and partly introduced by several countries — including EU member states, the UK, Norway, Australia, South Korea, Japan and Canada — earlier this year was expected to raise the tax take from the world’s biggest multinationals by up to $192bn a year.
But experts say a crucial pillar that prevented large companies paying less than a minimum effective tax rate of 15 per cent on their corporate profits worldwide would be undermined by Trump’s second term.
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