OECD: 70% of World Trade Between Subsidiaries of Same Corporations
January 28th, 2010
Richard Murphy has just noted on his blog that the OECD is now estimating that 70% of world trade is happening between subsidiaries of the same multinational corporations. The former OECD estimate had been 60%.
This means that the profits resulting from 70% of the world’s trade isn’t being reported on a country-by-country basis – making it very easy for multinational corporations to manipulate their taxes. This is why the Task Force advocates country-by-country reporting.