Global tax deal seeks to end havens but criticised for 'no teeth'
Published: Oct 9, 2021 2:06 AM | Updated: Oct 9, 2021 2:14 AM
A group of 136 countries on Friday set a minimum global tax rate of 15% for big companies and sought to make it harder for them to avoid taxation in a landmark deal that US President Joe Biden said levelled the playing field.
The deal aims to end a four-decade-long "race to the bottom" by setting a floor for countries that have sought to attract investment and jobs by taxing multinational companies lightly, effectively allowing them to shop around for low tax rates.
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