The G20 has backed an OECD report that would overhaul international corporate taxes and end the...

|By:, SA News Editor

The G20 has backed an OECD report that would overhaul international corporate taxes and end the loopholes that enable major multinational corporations such as Starbucks (SBUX), Google (GOOG) and Apple (AAPL) to avoid paying large amounts of tax. A major target of the change is the practice of transferring profits where they are generated into low or no-tax jurisdictions via internal company transactions.