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OECD Targets 2023 for Implementation of New Global Tax Rules

Sept. 5, 2021, 12:00 PM

A multi-state agreement to modernize the international tax system will bring greater certainty and improved fairness, ensuring global companies pay their fair share in countries where they operate, OECD Secretary General Mathias Cormann will say in a conference speech Monday.

  • NOTE: G-7 finance ministers in June agreed a framework deal to modernize the international tax code, including a worldwide minimum corporate tax rate of at least 15%
  • Cormann said the rate was expected to generate $150 billion in new tax revenue globally per year
  • Details of the agreement are still to be finalized, but expected to be ready for the ...