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October 11, 2021

136 countries reach deal on corporate minimum tax

  • The sweeping changes relate to how large global companies are taxed and include a 15% minimum rate.
    • By DAVID McHUGH and DANICA KIRKA
    Associated Press

    FRANKFURT, Germany — More than 130 countries have agreed on sweeping changes to how big global companies are taxed, including a 15% minimum corporate rate designed to deter multinationals from stashing profits in low-tax countries.

    The deal announced Friday is an attempt to address the ways globalization and digitalization have changed the world economy. It would allow countries to tax some of the earnings of companies located elsewhere that make money through online retailing, web advertising and other activities.


     
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