World

In global attack on corporate tax havens, leading economies move toward crackdown

This Sept.19, 2013 photo shows the logistics center of online merchant Amazon in Lauwin-Planque, northern France. The Organization for Economic Cooperation and Development released a plan Monday, Oct.5, 2015 to end tax shelters and require companies to pay taxes in the countries where they earn profits, among other measures. Google, Facebook, Starbucks and Amazon are among many companies criticized for shifting profits to low-tax jurisdictions. (AP Photo/Michel Spingler)

This Sept.19, 2013 photo shows the logistics center of online merchant Amazon in Lauwin-Planque, northern France. The Organization for Economic Cooperation and Development released a plan Monday, Oct.5, 2015 to end tax shelters and require companies to pay taxes in the countries where they earn profits, among other measures. Google, Facebook, Starbucks and Amazon are among many companies criticized for shifting profits to low-tax jurisdictions. (AP Photo/Michel Spingler)  (The Associated Press)

Leading world economies are close to adopting sweeping changes to international tax rules that could end tax-dodging by powerful multinationals.

The Organization for Economic Cooperation and Development released a plan Monday to end tax shelters and require companies to pay taxes in the countries where they earn profits, among other measures.

The OECD says the plan could bring $100 billion to $240 billion into government budgets. It's the result of two years of negotiations among dozens of governments, companies and non-governmental groups. Finance ministers from leading world economies will discuss the plan in Peru on Thursday, and their leaders are expected to finalize it at a G-20 summit next month in Turkey.

Google, Facebook, Starbucks and Amazon are among many companies criticized for shifting profits to low-tax jurisdictions.