For decades, multinational corporations have used sophisticated strategies to shift profits away from where they do business. As a result, countries around the world lose an estimated US$500 billion annually in unpaid taxes, with developing nations hit particularly hard.

In the first episode of The 15% solution, we explore how companies have exploited loopholes in the global tax system. We speak to Annette Alstadsæter, director of the Centre for Tax Research at the Norwegian University of Life Sciences, and Tarcisio Diniz Magalhaes, a professor of tax law at the University of Antwerp in Belgium.

In 2021, after years of international negotiations, the Organisation for Economic Co-operation and Development unveiled a global tax deal designed to address tax avoidance through a minimum corporate tax rate of 15%. But will this new framework actually work? And what happens when major economies refuse to participate? The 15% solution explores why a new global tax regime is needed, whether it can fix a broken system, and what’s at stake if it fails.

This episode of The Conversation Weekly was written and produced by Mend Mariwany. Gemma Ware is the executive producer. Mixing and sound design by Eloise Stevens and theme music by Neeta Sarl. Sound design and mixing by Eloise Stevens and theme music by Neeta Sarl. Read the f ull credits for this episode and sign up here for a free daily newsletter from The Conversation.

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The 15% solution part 1: why global tax reform is long overdue

The Conversation Weekly