The company denied the allegations, Itar-Tass reported.
In its plan, the OECD proposed to develop international tax rules "to address the gaps between different countries' tax systems." The recommendations outlined in the plan are aimed at supporting countries offering high tax regimes, like Germany or Russia, which are likely to benefit from implementing the initiative, said Mikhail Filinov, a partner responsible for international tax structuring services at Pw C in Russia.
"Quantitative easing is justified amid economic stagnation, it doesn't even lead to higher inflation," Siluanov said. The G20 financial ministers pointed out in the communique that they "remain mindful of the risks and unintended negative side effects of extended periods of monetary easing." "Future changes to monetary policy settings will continue to be carefully calibrated and clearly communicated," the document said.
Meanwhile, Siluanov made it clear that a possible wrap-up of the monetary stimulus program was not on the agenda at the moment.
He pointed out that the OECD's plan aims to ensure that multinational corporations "pay their fair share of taxes." Among the steps envisaged by the plan are requiring multinationals with operations abroad — like Google, Starbucks and Apple — to pay local taxes on any profit they get from sales in an overseas country and provide tax authorities with a breakdown of profit, sales and taxes in every country of presence.
The plan also calls for a more effective mechanism of dispute resolution and tougher legislation regulating the activities of companies' offshore subsidiaries, which often accumulate the entire profit with no taxes being levied on it.
Finance ministers and central bank governors of the world's 20 biggest economies agreed to focus on boosting employment and economic growth and continue the policy of monetary support where needed, according to the closing communique from the meeting.
"It's a specific action plan that our countries should implement to minimize the scale of tax evasion by major taxpayers," Russian Finance Minister Anton Siluanov told a news conference Friday.
In an extensive plan to be enforced within the next two years, the OECD outlined 15 specific steps to prevent tax evasion by big international companies.
The plan will include "a comprehensive series of structural reforms that will increase productivity, labor force participation and employment," the communique said.
Among such reforms is a major tax move proposed by the Organization for Economic Cooperation and Development and aimed at increasing the transparency of taxation systems globally.
"There's no recipe for wrapping it up tomorrow or the day after tomorrow or easing it a bit.