India, 135 Other Nations Agree On Landmark Global Corporate Tax Deal
9 October
A group of 136 countries on Friday set a minimum global tax rate of 15 per cent for big companies and sought to make it harder for them to avoid taxation in a landmark deal that US President Joe Biden said levelled the playing field.The deal aims to end a four-decade-long race to the bottom by setting a floor for countries that have sought to attract investment and jobs by taxing multinational companies lightly, effectively allowing them to shop around for low tax rates.