The 31 OECD members (The organization for Economic Cooperation and Development) have agreed on the deal of corporate tax avoidance and to stop companies using complex tax arrangements.
They will make it harder for the firms to hide money in tax havens. According to a report, now it will be compulsory for the firms like Google, Facebook and Amazon to pay the tax in the country, where they are making profits.
The deal between 31 nations is not about a new tax or a law but it is about the sharing information. This move came in context with the public anger at the tax practices of some multinationals.
