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OECD members agree to set 15 percent global minimum tax rate

( October 8, 2021, 16:50 GMT | Official Statement) -- MLex Summary: Organization for Economic Cooperation and Development members agreed to establish a 15 percent global minimum tax rate for multinational corporations as part of major reform to the international tax system. "The landmark deal, agreed by 136 countries and jurisdictions representing more than 90% of global GDP, will also reallocate more than USD 125 billion of profits from around 100 of the world’s largest and most profitable [multinational enterprises] to countries worldwide, ensuring that these firms pay a fair share of tax wherever they operate and generate profits," the OECD statement said. ...

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