OECD tax overhaul raises stakes for Ireland

Plans to shake up the way governments tax multinationals, which could upend the decades-old Irish tax regime, are racing ahead, with an agreement possible by next summer.

The Organisation for Economic Co-operation and Development (OECD), which has been tasked by the world’s richest nations, said it had made progress in drawing up rules that will assess and allocate tax on profits by multinationals like Google, Facebook, and Apple, to countries where they generate the revenues.