Landmark global corporate tax deal finally wins agreement

Published by
Reuters

By Leigh Thomas PARIS (Reuters) -A milestone global deal to ensure big companies pay a minimum tax rate of 15% and make it harder for them to avoid taxation has finally been agreed after Ireland, Estonia and Hungary signed up to the elusive accord. The deal aims to end a four-decade-long “race to the bottom” by governments that have sought to attract investment and jobs by taxing multinational companies only lightly and allowing them to shop around for low tax rates. Negotiations have been going on for four years, moving online during the pandemic, with support for a deal from U.S. President J…

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