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" Over 130 nations backed a 15% minimum global tax rate after years of negotiations. Smaller countries — such as Ireland, Hungary and Estonia — were against raising corporate tax rates because international businesses were attracted in locations that had lower tax rates, per CNBC. " The named countries finally agreed just now.
This deal goes in effect 2023 and will recoup a lot of money for countries.
This gives me hope. Gonna be hard to attack all 136 governments simultaneously. At this point, there are 195 countries/sovereign states in the world per the UN, which means just under 60 countries haven't signed on. I expect one of them is Russia, of course.
More countries are recognized by other bodies, though.
Only 7 OECD countries (Organization for Economic Cooperation & Development) have not signed on: Kenya, Nigeria, Pakistan and Sri Lanka. Pakistan is no surprise.
“As many as 136 of the 140 members of the OECD / G20 Inclusive Framework – writes Cormann in a series of tweets published in the late afternoon – adhere to the agreement to reform our international tax system and make it fairer and so that it can work better”. These are “all the G20 countries, all the EU countries and all the OECD countries”, states the Australian number one in the OECD, adding that “it is a great victory for effective and balanced multilateralism”.
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