G20 backs a global corporate minimum tax. How would it work?

Rome

Leaders at the Group of 20 summit in Rome are expressing general sustain for sweeping changes in how big global companies are taxed.

The goal: deterring multinationals from stashing profits in countries where they pay little or no taxes – commonly known as tax havens.

The proposal was finalized in October among 136 countries and sent to the G-20 for a final look after complicate talks overseen by the Organization for Economic Cooperation and Development. It would update a century’s worth of international taxation rules to cope with changes brought by digitalization and globalization.

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