Global corporate-tax overhaul advances as 136 nations sign on

After year-long delays and postponements, a new global tax system has gained the support from 136 countries in a Friday agreement solving key issues, according to the OECD.

By William Horobin and Isabel Gottlieb, bloomberg

Published: 11.10.21 at 10:03

A vast overhaul of corporate taxation won support from 136 countries, as governments resolved key differences over the level of a global minimum rate and an end to new digital taxes that the US has deemed discriminatory.

After years of missed deadlines and wrangling over how to handle tech firms such as Facebook Inc. and Alphabet Inc.'s Google, Friday's deal included a 15 percent minimum rate for corporations and the main parameters of how much profits of the 100 or so biggest multinationals would be taxed in more countries: 25 percent of profits over a 10 percent margin.

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