Leaders of the globe’s 20 biggest economies have embraced a deal on a global minimum corporate tax to stem the decline in tax rates on corporations, but skeptics argue it will only profit the states that are already well-off.
“We call on the OECD-G20 Inclusive Framework on Base Erosion and Profit Shifting to swiftly develop the model rules and multilateral instruments as agreed in the Detailed Implementation Plan, with a view to ensure that the new rules will come into effect at global level in 2023,” the draft conclusions of the two-day G20 summit underway in Rome said, as cited by Reuters.
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