Global tax reform: 130 countries commit to minimum corporate rate
Last edited Fri Jul 2, 2021, 03:48 AM - Edit history (1)
Source: The Guardian
Efforts to force multinational companies to pay a fairer share of tax have taken a decisive step forward after 130 countries and jurisdictions agreed to plans for a global minimum corporate tax rate.
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Some countries, however, including Ireland, Hungary and Estonia, have yet to sign up to the reforms, which are being negotiated with 139 participants in talks organised by the Paris-based OECD.
The others not to have signed at this stage are Barbados, Kenya, Nigeria, Sri Lanka and St Vincent & the Grenadines. Peru abstained because it currently does not have a government.
Several jurisdictions with low or zero corporation tax rates commonly regarded as tax havens – including the Cayman Islands and Gibraltar – were among signatories to the deal. Sources close to the process said it was clear to these places that the “writing was on the wall”.
Read more: https://www.theguardian.com/business/2021/jul/01/global-tax-reform-130-countries-commit-to-minimum-corporate-rate
I think the rest of the EU will be able to persuade Ireland, Hungary and Estonia. Getting the regular tax havens in was important.
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