…[T]he Organisation for Economic Cooperation and Development (OECD) released their long awaited Base Erosion and Profit Shifting (BEPS) outcomes report. These outcomes are the OECD’s proposals for new rules to combat tax cheating by multinationals…This has been the first serious global effort to combat widespread corporate tax cheating – and that in itself has been a huge step forward. The OECD should be congratulated for the work they have done…[M]any of the proposals are weak, and will still provide multinational companies with opportunities to move profits away from the countries where those profits are generated, and in doing so reduce tax revenues…[T]he Tax Justice Network is pleased that the OECD has carried out its mandate from the G20 to establish a template for country-by country-reporting…This measure will help tax authorities by making companies disclose how much profit they declare in each country where they operate, and how that relates to measures of real activity…It is disappointing that the OECD has not tackled the central flaw that allows multinationals to exploit the international tax system. That is the way in which tax rules treat the various subsidiaries of multinationals as if they were merely loose collections of independent companies…