The Organisation for Economic Co-operation and Development has unveiled its recommendations on overhauling global corporation tax.

The Base Erosion and Profit Sharing initiatives have been a year in the making.

Ireland’s 12.5% rate and loopholes have been at the centre of discussions since it was criticised by a US Senate committee, Australian politicians and most recently, Barack Obama.

Pascal Saint-Amans is the OECD’s head of tax and says the new 7 point plan sends a 'very strong' message to multi-nationals. He spoke to Jonathan Healy earlier today: