The Organisation for Economic Cooperation and Development (OECD) has announced its final proposals to clamp down on tax avoidance.
The OECD estimates that $240bn (£158bn) annually in tax is lost by profit shifting, and broadly speaking, these measures are likely to raise the tax bill for multinational corporations.
Profits will be attributable to the country where people are doing the most work, ending the practise of registering a company in a people-less tax haven.
The plans include limiting tax-deductible interest payments to between 10 and 30 per cent, enforcing country by country tax reports for multinationals, rules governing what counts as a permanent presence, and linking patents to the country where its IP was created.
Experts have warned that this is only the beginning, and countries will have to work hard to implement the recommendations evenly and fairly.