The OECD said on Thursday that around 130 countries and jurisdictions have signed global tax reforms that ensure that multinationals pay their fair share no matter where they do business.
The Organization for Economic Cooperation and Development said in a statement that global companies, including American giants Google, Amazon, Facebook and Apple, are taxed at a rate of at least 15%. The
formal agreement follows the approval of the G7 wealthy group at a meeting in the UK last month, US Treasury Secretary Janet Yellen said the world’s lowest tax would “end competition to the bottom of corporate taxes.”
However, Ireland and Hungary, the low-tax countries of the European Union, refused to sign an agreement reached within the framework of the OECD, emphasizing the long-term sector on global taxation.
My name is Mayank Bansal I have a keen interest in writing about the latest happenings in business and market. I am a news writer at review minute.