Reported 4 months ago
Officials from 127 countries and jurisdictions met in Paris to save the first pillar of a global tax agreement for highly profitable multinational companies by the end of June. The aim is to replace national digital services taxes and reallocate taxing rights on $200 billion in profits to where sales occur, with a global minimum rate for corporate taxes at 15%. Failure to reach an agreement could trigger trade tensions between the U.S. and European allies as the current standstill deal on national digital taxes expires in July.
Source: YAHOO