136 countries including the US, the UK, China, India, and every EU country agree to set a 15% minimum corporate tax rate.
The OECD lead the deal and it still needs to be approved by G20 leaders later this month. It will likely take at least two years to implement. The deal aims to ensure that the world's 100 biggest companies, like Facebook and Johnson & Johnson, pay taxes on their operations and sales around the globe, while introducing an international effective minimum corporate tax rate of 15%. The tax would allow countries to pocket an additional $150B in yearly tax revenue. This is a big deal against corporate tax avoidance in places like Ireland. Link
