G20 only achieved global tax deal unanimity at last minute
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BERLIN (Reuters). Until Friday’s close of negotiations, not all G20 members were in agreement with a global tax reform that was agreed upon by 136 nations. A German government source stated Monday.
It was vital that all European member state agree to the deal in order for it to be applied across the bloc. Source said.
The deal https://www.reuters.com/business/finance/global-corporate-tax-deal-nears-holdouts-drop-objections-2021-10-08 aims to end a four-decade-long “race to the bottom” by setting a floor for countries that have sought to attract investment and jobs by taxing multinational companies lightly, effectively allowing them to shop around for low tax rates.
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