French oil company Total has announced plans to close subsidiaries in tax havens in a bid to prove it is making conscious efforts to clean up its tax policy. However, it remains to be seen whether Total’s intentions are genuine or simply a publicity stunt.
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Pillar two might be top of mind for many multinational companies, but the huge variations between countries’ readiness means getting ahead of the game now, argues Russell Gammon, chief solutions officer at Tax Systems.