international tax standards

International tax standards are guidelines that countries follow to ensure fair and consistent taxation of cross-border economic activities. They aim to prevent tax evasion, double taxation, and disputes by promoting transparency and cooperation among nations. These standards are set by organizations like the OECD and include rules on transfer pricing, reporting requirements, and information exchange. By adhering to these principles, countries can better coordinate their tax systems, ensuring that businesses and individuals pay the appropriate taxes regardless of where they operate or earn income.