Biden’s plans are ‘once in a lifetime’ chance to end global tax abuse, says OECD boss

Angel Gurria says international deal is within striking distance and could be signed this summer

• An overhaul of the global tax system can wait no longer'

President Joe Biden's proposals to stop multinationals from shifting profits to tax havens are a once in a lifetime" chance to end tax abuse, and could be signed within months, the head of the Organisation for Economic Co-operation and Development has said.

Angel Gurria, who has been coordinating international negotiations on Biden's plan as secretary-general of the OECD, said a deal was within striking distance and could be signed this summer after decades of limited progress. It follows a shift by the White House to call time on a race to the bottom" between nations undercutting each other on tax rates to attract businesses to locate within their borders.

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