"Worldwide Adoption of 15% Minimum Corporate Tax Expected to Boost Global Revenue by $220bn"
TL;DR
A new global minimum tax on multinational corporations has been implemented with the aim of raising up to $220 billion in additional revenue. This measure is designed to prevent large companies from shifting profits to low-tax jurisdictions, ensuring they pay a fairer share of taxes on their earnings. The initiative represents a significant shift in international tax policy, aiming to address the challenges of taxation in the digital economy and curb tax avoidance.
Topics:businessbusinessfinance#businessfinance#global-minimum-tax#international-economy#multinationals#revenue#taxation
- Global minimum tax on multinationals goes live to raise up to $220bn Financial Times
- Corporation tax rate rises to 15% for some large firms RTE.ie
- S. Korea set to implement global minimum corporate tax scheme Yonhap News Agency
- EU Corporate taxation minimum rate set at 15% from Jan 1st 2024 EU Today
- Belgium to introduce 15% minimum corporate tax from January The Brussels Times
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