Live Update 
From the Liveblog of
Thursday, July 1, 2021
From the Liveblog of
Thursday, July 1, 2021
OECD says 130 countries agree to global taxation deal
Some 130 countries and jurisdictions have signed up to a global tax reform ensuring that multinationals pay their fair share wherever they operate, the Organization for Economic Co-operation and Development (OECD) says.
The OECD says in a statement that global companies, including US behemoths Google, Amazon, Facebook, and Apple would be taxed at a rate of at least 15 percent.
The formal agreement follows an endorsement by the G7 group — consisting of several of the world’s wealthy nations — last month at a meeting in Britain, when US Treasury Secretary Janet Yellen said a global minimum tax “would end the race to the bottom in corporate taxation.”
Germany hails the deal as a “colossal step towards tax justice.”
