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Corporations Could Pay Nearly 14% More Under Global Tax Deal, IMF Says

  • Global 15% minimum tax would bring in $150 billion each year
  • Implementation of deal faces political headwinds in U.S., EU

Companies worldwide could collectively pay almost 14% more in corporate income taxes annually if a global tax accord is fully implemented, according to new estimates from the International Monetary Fund.

The IMF’s projections foreshadow a sharp increase in corporate tax collections largely tied to a two-part pact struck last year with nearly 140 countries to implement a 15% minimum tax rate and an overhaul of some global taxing rights to require some of the largest companies to book income in the countries where revenues are generated.