A global tax reform deal is taking shape, but the implementation of this lofty goal faces huge political and structural barriers. Sebastian Shehadi, political editor at Investment Monitor, a sister publication to IAB opines
Historic steps have been taken towards global tax justice in recent weeks. It all kicked off in June, with the G7’s commitment to a global minimum corporate tax of at least 15% – and in which profit will be targeted based on multinationals’ place of sale, not place of residence. Then, 130 countries, representing 90% of the world’s GDP, backed the agreement at a meeting held by the Organisation for Economic Cooperation and Development (OECD) in Paris.
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