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OECD Deal to Revamp Decades of Global Tax Rules: Explained

July 1, 2021, 7:40 PM

More than 100 countries have reached a deal to revamp global tax rules, setting up one of the biggest overhauls of how multinational companies are taxed in years and upending decades of laws and treaties.

The deal, announced Thursday by the OECD after years of negotiations, follows a Group of Seven-endorsed plan last month that called for setting at least a 15% minimum tax rate and crafting new rules to target the world’s largest and most profitable multinationals. The Organization for Economic Cooperation and Development-brokered deal—which 130 of the 139 countries involved in talks signed on to—offers more ...

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