Who is the OECD – Introduction
The Organisation for Economic Co-operation and Development (OECD) is an international organisation that works to promote economic growth, trade, and development across its 38 member countries.
The OECD was founded in 1961, and its mission is to help countries improve their economies and the well-being of their citizens.
One of the OECD’s main roles is to create international standards and guidelines for tax policies, trade practices, and economic cooperation.
It plays a key role in global tax reform, especially through initiatives like Base Erosion and Profit Shifting (BEPS) and the development of the Global Minimum Tax.
What Does the OECD Do?
The OECD provides a forum for governments to discuss and coordinate economic policies.
It collects and publishes data on a wide range of economic issues, such as tax policies, trade, and social programs.
The OECD also creates guidelines and recommendations that help countries improve their tax systems, reduce poverty, and promote sustainable growth.
In recent years, the OECD has been leading efforts to combat tax avoidance by multinational companies through its BEPS initiative.
This initiative aims to close loopholes in international tax laws and ensure that companies pay taxes where they earn their profits.
Why is the OECD Important?
The OECD is important because it helps countries work together to solve global economic problems.
By creating international standards and encouraging cooperation, they help to create a more stable and fair global economy.
In the area of taxation, the OECD’s work has been instrumental in tackling the challenges of globalisation and the digital economy.
Its Pillar One and Pillar Two initiatives aim to ensure that large multinational companies pay their fair share of taxes and that countries can collect the tax revenue they need to support public services.
Conclusion
The OECD plays a crucial role in shaping international economic policy.
Through its work on tax reform, trade, and economic development, they help countries create policies that promote growth, reduce inequality, and ensure that companies contribute fairly to the global economy.
Final thoughts
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