A Starbucks logo hangs on a window at a newly designed Starbucks coffee shop in Fountain Valley, California August 22, 2013. REUTERS/Mike Blake
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Under the new rules, companies such as Starbucks, Amazon and Google will find it harder to concentrate their profits in low-tax countries and tax havens, raising up to $250bn a year in additional tax revenues, according to the OECD.The plans to crack down on corporate tax avoidance were devised by more than 60 governments in the first big overhaul of the rules for taxing profits for nearly a century.They are the culmination of an ambitious international project launched two years ago by G20 governments in response to public anger over corporate tax avoidance.Finance ministers from the world's largest economies hailed the rules, which they hope will raise tax revenues and force companies to pay what they owe.
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