‍ While this may sound like whitewashing a complex issue, globalization has had the effect of helping set some universal standards.
‍ While this may sound like whitewashing a complex issue, globalization has had the effect of helping set some universal standards. Through knowledge sharing, basic industry standards have been set and other international bodies are working to set standards for labour and employment law, as well as tax regulation. The Organisation for Economic Cooperation and Development (OECD), for example, drafted the Model Tax Convention in 2017 to help authorities and businesses understand when they are liable to pay corporate taxes and how they can prepare when expanding internationally.