More than 130 countries have signed up to a ground-breaking global deal on corporate tax reform that the OECD hopes will eliminate tax havens while bringing in $150bn more a year from multinationals.
The 136 nations also agreed to a two-year ban on imposing new taxes on tech groups such as Google and Amazon while the Biden administration tries to ratify the deal in the US.
The agreement — the biggest corporate tax reform for more than a century — includes a 15 per cent global minimum effective corporate tax rate, plus new rules to force the world’s multinationals to declare profits and pay more in the countries where they do business.
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