130 economies agree to global minimum tax rate from 2023

A group of 130 nations and regions agreed Thursday to implement a global minimum corporate tax rate and duties on multinational giants in 2023, the Organization for Economic Cooperation and Development said.In online working-level OECD talks, participants vowed to aim for the introduction of a common minimum tax rate of at least 15 percent for globally operating companies to prevent them from shifting profits to low-tax jurisdictions as well as to secure more revenue, the organization said in a press release.The new tax will apply to multinational giants with global annual revenue of at lea…READ FULL ARTICLE