Some 136 countries representing more than 90 percent of global GDP have signed a OECD-brokered deal to more fairly tax multinational companies and enact a minimum tax on global corporations of 15 percent
G7 finance ministers agreed on Saturday on a system to make multinational companies pay more tax in countries where they operate, alongside a minimum global corporate tax rate of at least 15%.
"We commit to not withdrawing policy support too soon and investing to promote growth, create high-quality jobs and address climate change and inequalities," the draft communique, seen by Reuters, said.
Secretary Yellen announced that we will engage robustly to address both Pillars of the OECD project, and that that the United States is no longer advocating for "safe harbor" implementation of Pillar 1.
