{"id":350520,"date":"2021-10-08T22:19:13","date_gmt":"2021-10-08T19:19:13","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/nearly-140-countries-agree-to-15-minimum-global-corporate-tax-rate\/"},"modified":"2021-10-08T22:19:13","modified_gmt":"2021-10-08T19:19:13","slug":"nearly-140-countries-agree-to-15-minimum-global-corporate-tax-rate","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/nearly-140-countries-agree-to-15-minimum-global-corporate-tax-rate\/","title":{"rendered":"#Nearly 140 countries agree to 15% minimum global corporate tax rate"},"content":{"rendered":"<p>&#8220;<strong>#Nearly 140 countries agree to 15% minimum global corporate tax rate<\/strong>&#8221;<\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>Nearly 140 countries, representing more than 90 percent of the world\u2019s GDP, agreed to set a minimum corporate tax rate of 15 percent Friday \u2014 in a sweeping overhaul of international tax rules that will clamp down on tax havens.<\/p>\n<p>The long-awaited deal still has to be implemented by lawmakers in each country, but the agreement by 136 nations is a major breakthrough in efforts to ensure global corporate behemoths pay their share, the Organisation for Economic Cooperation and Development said.<\/p>\n<p>\u201cToday\u2019s agreement will make our international tax arrangements fairer and work better,\u201d Mathias Cormann, the OECD\u2019s secretary-<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a>, said in a statement Friday. <\/p>\n<p>\u201cIt is a far-reaching agreement which ensures our international tax system is fit for purpose in a digitalized and globalized world economy.\u201d<\/p>\n<p>The deal will make sure Big Tech companies in particular \u2014 which have taken advantage of low-tax countries \u2014 pony up.<\/p>\n<p>Many major US tech firms, including <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Facebook<\/a> and Google, set up their European headquarters in Ireland, which currently has a corporate tax rate of 12.5 percent.<\/p>\n<figure class=\"wp-block-image size-large is-style-default\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/blinken-283.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Secretary of State Antony Blinken arrives for a member session at the Organization for Economic Cooperation and Development's Ministerial Council Meeting, Tuesday, Oct. 5, 2021, in Paris.\" class=\"wp-image-19744722\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/blinken-283.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/blinken-283.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/blinken-283.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Secretary of State Antony Blinken at the OECD\u2019s Ministerial Council Meeting, in Paris on Oct. 5, 2021.<\/figcaption><figcaption><span class=\"credit\">AP Photo\/Patrick Semansky, Pool<\/span><\/figcaption><\/figure>\n<figure class=\"wp-block-image size-large is-style-default\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/oecd.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"The Organisation for Economic Co-operation and Development (OECD) headquarters is pictured in Paris, France. Nearly 140 countries have agreed on a tentative deal that would make sweeping changes to how big, multinational companies are taxed in order to deter them from stashing their profits in offshore tax havens where they pay little or no tax. The agreement announced Friday foresees countries enacting a global minimum corporate tax of 15% on the biggest, internationally active companies.\" class=\"wp-image-19744615\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/oecd.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/oecd.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/oecd.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>The OECD headquarters in Paris. The deal reached on Oct. 8, 2021, aims to clamp down on tax havens.<\/figcaption><figcaption><span class=\"credit\">AP Photo\/Francois Mori, File<\/span><\/figcaption><\/figure>\n<p>But Ireland was among the 136 nations to sign up to the agreement Friday, despite being a holdout initially \u2014 vowing its new 15 percent tax will take effect as soon as 2023. <\/p>\n<p>Other skeptics of the deal, Estonia and Hungary, also signed on to support the agreement after assurances that there will be a long implementation period, and that small businesses won\u2019t be hit by the new rate. <\/p>\n<p>The OECD noted that Kenya, Nigeria, Pakistan and Sri Lanka have still not joined the agreement.<\/p>\n<p>The landmark agreement would also force companies, such as e-commerce giant Amazon, to pay taxes wherever they have customers \u2014 even if they have no headquarters in the country. <\/p>\n<p>The OECD said this will help governments capture more tax revenue from companies\u2019 profits, as well as help spread that public revenue more evenly across large and small countries. <\/p>\n<figure class=\"wp-block-image size-large is-style-default\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/blinken-280.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Secretary of State Antony Blinken speaks during a closing session at the Organization for Economic Cooperation and Development's Ministerial Council Meeting, Wednesday, Oct. 6, 2021, in Paris. \" class=\"wp-image-19744735\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/blinken-280.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/blinken-280.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/blinken-280.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>American companies like Facebook and Google have set up their European headquarters in Ireland, which currently has a corporate tax rate of 12.5 percent.<\/figcaption><figcaption><span class=\"credit\">AP Photo\/Patrick Semansky, Pool<\/span><\/figcaption><\/figure>\n<p>However, if any major country failed to implement the agreement, the deal could unravel and have little impact on global corporate tax avoidance, officials warned.<\/p>\n<p>\u201cWe are all relying on all the bigger countries being able to move at roughly the same pace together,\u201d Irish Finance Minister Paschal Donohoe said, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/countries-agree-to-global-deal-to-curb-tax-avoidance-11633709979?mod=hp_lead_pos2\">according to the Wall Street Journal<\/a>. <\/p>\n<p>\u201cWere any big economy not to find itself in a position to implement the agreement,\u00a0 that would matter for the other countries. But that might not become <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>arent for a while.\u201d<\/p>\n<p>The countries are targeting 2023 for implementation of the agreement.<\/p>\n<p>US Treasury Secretary Janet Yellen hailed the deal as \u201ca once-in-a-generation accomplishment for economic diplomacy.\u201d<\/p>\n<p>Yellen congratulated countries that \u201cdecided to end the race to the bottom on corporate taxation\u201d and expressed hope that Congress will quickly implement the deal in the US.<\/p>\n<p>\u201cInternational tax policymaking is a complex issue, but the arcane language of today\u2019s agreement belies how simple and sweeping the stakes are:\u00a0When this deal is enacted, Americans will find the global economy a much easier place to land a job, earn a living, or scale a business,\u201d she said in a statement.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2021\/10\/08\/nearly-140-countries-agree-to-15-minimum-global-corporate-tax-rate\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Nearly 140 countries agree to 15% minimum global corporate tax rate&#8221; Nearly 140 countries, representing more than 90 percent of the world\u2019s GDP, agreed to set a minimum corporate tax rate of 15 percent Friday \u2014 in a sweeping overhaul of international tax rules that will clamp down on tax havens. The long-awaited deal still&#8230;<\/p>\n","protected":false},"author":1,"featured_media":350521,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/OECD-COMP.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[117214,87203,71511,46483],"class_list":["post-350520","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-10-8-21","tag-corporate-taxes","tag-government","tag-taxes"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/350520","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=350520"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/350520\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/350521"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=350520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=350520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=350520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}