Global pact made on minimum corporate tax
The Hindu
U.S. Treasury Secretary Janet Yellen hailed it as a victory for American families as well as international business.“We’ve turned tireless negotiations into decades of increased prosperity — for both
U.S. Treasury Secretary Janet Yellen hailed it as a victory for American families as well as international business.
“We’ve turned tireless negotiations into decades of increased prosperity — for both America and the world. Today’s agreement represents a once-in-a-generation accomplishment for economic diplomacy,” Ms Yellen said in a statement.
The OECD said the minimum rate would see countries collect around $150 billion in new revenues annually while taxing rights on more than $125 billion of profit would be shifted to countries where big multinationals earn their income.
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