
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.
Already a subscriber? Log in.
Read the whole article
Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
- Access all locked articles
- Receive our daily newsletters
- Access our app