Some 100 Nations To Join New Regime To Fight Tax Avoidance

Some 100 nations to join new regime to fight tax avoidanceThe Organization for Economic Cooperation and Development said Thursday around 100 countries are likely to join global efforts to fight corporate tax avoidance amid growing public concern following revelations contained in the so-called Panama Papers.

"We're here to start our collective journey toward a fairer, more equitable and transparent international tax system," Japanese Finance Minister Taro Aso said at an OECD meeting in Kyoto in which participants were discussing global cooperation in addressing tax avoidance.

The OECD's Committee on Fiscal Affairs started a two-day gathering to prompt more countries to take part in ongoing efforts by 46 nations to impose tougher international rules to prevent tax avoidance by multinational enterprises.