10/15/21: Led by the United States, aided by the European Union, 136 nations agree to enforce a corporate tax rate of at least 15%.
At the very least, this should make it
harder for giant multi-national corporations to dodge paying their fair share.
UK Chancellor Rishi Sunak said
the deal would “upgrade the global tax system for the modern age.”
“We now have a clear path to a
fairer tax system, where large global players pay their fair share wherever
they do business,” he said.
It is estimated that this agreement will bring in, globally, an extra $150 billion in
revenue every year.
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You might pay a fortune for Nike shoes. That doesn't mean Nike pays much in taxes. |
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