Janet Yellen Celebrates Controversial ‘Once-In-A-Generation’ Global Minimum Corporate Tax Agreement

Janet Yellen Celebrates Controversial ‘Once-In-A-Generation’ Global Minimum Corporate Tax Agreement


On Friday, the Organization for Economic Cooperation and Development (OECD) announced that they had agreed to a global minimum corporate tax rate of 15%, after years of debate and disagreement.

“The landmark deal, agreed by 136 countries and jurisdictions representing more than 90% of global GDP, will also reallocate more than USD 125 billion of profits from around 100 of the world’s largest and most profitable MNEs to countries worldwide, ensuring that these firms pay a fair share of tax wherever they operate and generate profits,” the OECD said in a statement.

136 jurisdictions out of the 140 members of the OECD and G20 “Inclusive Framework on BEPS” joined the “Statement on the Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalization of the Economy.”

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“Today’s

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