CNBC: World leaders reach historic agreement on a global corporate tax rate
* The twist comes after some changes have been made to the original text.
* In particular, the 15% rate will not be increased at a later date and small businesses will not be affected by the new rates.
* This has helped Ireland, a longtime opponent of rising corporate tax rates, to join the plan.
The Organization for Economic Co-operation and Development announced on Friday a major step forward on corporate tax rates, after years of disagreement.
The group of developed nations has agreed on a global minimum corporate tax rate of 15%.
This marks a huge shift for smaller economies, such as the Republic of Ireland, which have attracted international businesses, to a large extent, through a lower tax rate.
to know more ….
WNU Editor: I still have a hard time believing that the United States Congress will agree with this.
More news on 136 countries reaching agreement on a minimum corporate tax of 15%
More than 130 countries reach agreement on minimum corporation tax – AP
Nations agree on minimum corporate tax rate of 15% – BBC
World leaders hail global corporation tax rate deal – DW
The OECD agreement imposes a minimum global corporation tax of 15% – The Guardian
136 countries accept the minimum corporate tax rate after Ireland ditches its opposition – CNN
136 countries agree on global minimum tax agreement – The Hill
OECD signs global corporation tax reform deal as last cave of resistance – Zero Herdge
More than 130 countries reach minimum corporation tax agreement – Canadian Press
EXPLANATION: How Global Agreement Hinders Corporate Use of Tax Havens – AP
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