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Corporate tax floors have been introduced in 136 countries

Corporate tax floors have been introduced in 136 countries

The Organization for Economic Co-operation and Development said on Friday that four countries – Kenya, Nigeria, Pakistan and Sri Lanka – had chosen not to sign the agreement.

On the other hand, Ireland, Hungary and Estonia, which has a corporate tax of less than 15 per cent, changed their stance on the issue and agreed to the agreement.

According to the Organization for Economic Co-operation and Development, a minimum tax of 15 percent could increase annual global tax revenue by $150 billion, or roughly SEK 1,300 billion.

Today’s agreement will make the global tax system better and more equitable, says OECD Secretary-General Matthias Kormann.

‘Important step’

French Finance Minister Bruno Le Maire said the agreement opens the door to a real tax revolution. German Finance Minister Olaf Schulz also expressed optimism about the agreement.

– Today we have taken another important step towards a more fair tax system, he says.

But not everyone is equally convinced. Argentine Economy Minister Martin Guzman, for example, says the proposals on the table are forcing developing countries to choose between “something bad and worse”.

Facebook welcomes attendees

Facebook comments that the agreement could mean the US company will have to pay more taxes, and in different places.

Facebook has long called for reform of global tax rules, says Nick Clegg, Facebook’s second-highest director of international business.

Clegg was previously Deputy Prime Minister of the United Kingdom as a Liberal Democrat under Conservative Prime Minister David Cameron.

He adds that the tax system should create trust and ensure security and stability for businesses.

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We are pleased to see a growing international consensus.

Human rights group Oxfam said the 15 per cent tax level is too low and will do “little or nothing to stop harmful tax competition”.