A group of 136 countries on Friday set a minimum global tax rate of 15% for big companies and sought to make it harder for them to avoid taxation in a landmark deal that US President Joe Biden said levelled the playing field.
Many developing countries have said their interests have been ignored and that wealthy nations were likely to continue dividing up the spoils of foreign direct investment.
PARIS: A global push to enact a minimum international tax on big corporations moved closer to reality on Friday as one of the last holdouts, Hungary, agreed to join a reform that now counts 136 countries.The OECD-brokered deal, which sets a global tax of 15 per cent, is aimed at stopping international corporations from slashing tax bills by registering in.
A group of 136 countries on Friday set a minimum global tax rate of 15 per cent for big companies and sought to make it harder for them to avoid taxation in a landmark deal that US President Joe Biden said levelled the playing field.