Corporate Tax

Greater than 130 nations attain settlement on the corporate minimal tax

FRANKFURT, Germany (AP) – More than 130 countries have agreed on a preliminary deal that would fundamentally change the taxation of large, multinational corporations to prevent them from hiding their profits in offshore tax havens where they have none or only pay few taxes. The agreement announced on Friday provides for countries to introduce a minimum global corporate tax of 15% on the largest, internationally operating companies. United States President Joe Biden was a driving force behind the deal as governments around the world seek to boost revenues in the wake of the COVID-19 pandemic. The agreement was announced by the Paris-based Organization for Cooperation and Economic Development, which hosted the talks.

Related Articles