Analysis | A New Way to Tax Global Corporations, Explained

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The Team of 20 countries — which constitute about 90% of the worldwide economic system — finalized key main points in October. Thus far, 136 international locations have signed on, out of 140 international locations serious about negotiations overseen via the Group for Financial Cooperation and Construction, with Kenya, Nigeria, Pakistan, and Sri Lanka preserving out. Crucially, the ones now on board come with Eire and Hungary, which till now have benefited from having probably the most lowest company tax charges in Europe. Some other Ecu holdout, Estonia, has additionally signed on.

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