Officials from the Group of 20 economies agreed recently in Japan to set common international rules meant to stop tax avoidance by the world's biggest tech companies, whose profits have grown far faster than their payments into government coffers. Policymakers need to move quickly to avoid a scenario where a proliferation of unilateral rules disrupts business.
"We will redouble our efforts for a consensus-based solution with a final report by 2020," G-20 finance chiefs and central bankers said in a communique at the conclusion of their June 8-9 meeting in Fukuoka.
