Global Treaty Closes Corporate Tax Avoidance Loopholes

76 countries and jurisdictions committed to closing corporate tax loopholes at the Organization for Economic Cooperation and Development (OECD) in Paris. The agreement builds on efforts from the OECD-G20 Base Erosion and Profit Shifting (BEPS) action plan.

Eric LeCompte, Executive Director of the religious development group Jubilee USA, releases the following statement:

“The agreement is a critical step forward for transparency and tackling corporate tax avoidance.

“The tax pact acknowledges that we are dealing with a problem that transcends borders and we need solutions that can cross borders.

"Early on, the United States was a leader in moving forward this process to tackle tax avoidance. Unfortunately the US didn't sign the agreement. We encourage the United States to rejoin this agreement and support other efforts that promote financial transparency."