Final deal on OECD-led int’l tax reforms reached, will begin in 2023

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Kyodo News

The majority of the world’s economies on Friday sealed a deal on global tax reforms to be implemented from 2023 to ensure that major international firms pay their fair share of tax no matter where they are located, the Organization for Economic Cooperation and Development said. In a virtual meeting of an OECD-led project to review the century-old international tax system involving 140 countries, 136 nations agreed on the new rules that include setting a global minimum corporate tax rate of 15 percent, one of the unresolved issues when an outline agreement was concluded in July. A new tax will …

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