Apple could be impacted by OECD proposals for new tax rules
(iMore iPhone)

A major overhaul is planned What you need to know New OECD proposals could mean companies like Apple face larger tax bills. More than 130 countries have agreed tax reform is necessary due to the rise of internet companies. Proposals could would mean companies pay tax regardless of whether they have a physical presence in a country. According to Reuters, new proposals from the OECD could affect the way large multinational companies like Apple pay taxes, leading to heavier tax bills. The news comes following general agreement that tax laws have not kept pace with the rise of internet companies like Apple, Facebook and Google, and that a major overhaul is needed. According to Reuters: Governments will get more power to tax big multinationals doing business in their countries under a major overhaul of decades-old cross-border tax rules outlined on Wednesday by the Organisation for Economic Cooperation and Development. `The current system is under stress and will not survive i...