Global Tax Agreement "Historic", Major Advance In Fiscal Justice: France's Macron
NDTV
The 136 nations now on board represent 90 percent of global gross domestic product.
French President Emmanuel Macron on Saturday hailed the "historic" agreement of 136 countries on setting a minimum tax rate for multinationals as a major advance in fiscal justice.
The OECD-brokered deal, which sets a global tax rate of 15 percent, is aimed at stopping international corporations from slashing tax bills by registering in nations with low rates.
The international push for a minimum international tax on big corporations moved closer to reality on Friday as one of the last holdouts, Hungary, agreed to join a reform that now counts 136 countries.
Hungary's announcement came a day after another key opponent, Ireland -- whose low tax rate has attracted the likes of Apple and Google -- relented and agreed to join the global effort.