Reuters reports that the Organisation for Economic Co-operation and Development said that a landmark deal to reform corporate tax payments proposed by the Group of Seven will not unfairly benefit the United States.

"I wouldn't agree with your characterisation that this particularly benefits the U.S. I think you'll find that there are a number of very large multinational U.S. companies that will end up paying more tax in countries around the world, where perhaps at the moment that is not the case," OECD Secretary-General Mathias Cormann told.

Cormann said he expected Amazon would be among the companies covered under the new rules. The OECD has been instrumental in drawing up new international tax proposals.