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Taxes

Global Tax Overhaul Endorsed by 130 Nations as Deal Gets Closer

OECD talks produce broad agreement ahead of G-20 meeting
Some nations didn’t sign on; final deal could come in October

Video player cover image — WATCH: Officials from 130 countries have endorsed setting a minimum tax rate for international corporations.(Source: Bloomberg)

By

William Horobin

July 1, 2021, 3:42 PM UTCUpdated onJuly 1, 2021, 4:57 PM UTC

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The world took a big step toward sweeping changes to global taxation as 130 countries and jurisdictions endorsed setting a minimum rate for corporations along with rules to share the spoils from multinational firms like Facebook Inc. and Alphabet Inc.’s Google.