G20 leaders approve global tax reform deal

 

G20 leaders have formally endorsed the global agreement for a minimum 15 percent corporate tax, US Treasury Secretary Janet Yellen said Saturday, hailing it as a "historic" step.

"Today, every G20 head of state endorsed an historic agreement on new international tax rules, including a global minimum tax that will end the damaging race to the bottom on corporate taxation," she said.

Some 136 countries representing more than 90 percent of global GDP have signed a OECD-OECD-brokered deal to more fairly tax multinational companies and enact a minimum tax on global corporations of 15 percent.

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