March 4, 2024



Global tax overhaul backed by 130 countries

BBC News

July 1, 2021

Officials from 130 countries have agreed to overhaul the global tax system to ensure big companies “pay a fair share” wherever they operate.

The OECD said on Thursday that negotiators had backed a proposed minimum corporate tax rate of at least 15%. US Treasury Secretary Janet Yellen said: “Today is an historic day for economic diplomacy.”

Tax on big tech firms has been a source of friction between the US and others.

The Organisation for Economic Co-operation and Development (OECD), which led the talks, said that the plans could generate about $150bn (£109bn) in tax revenues a year.

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