About 130 countries have agreed to the World Organization At least Tax, an idea approved by President Joe Biden. The lower tax is part of an international effort to avoid the tax of multinational corporations.
The deal was announced last Thursday. It is an attempt to address the difficulties of the interconnected and growing online global economy.
The contract pays at least 15 percent of the overall tax. This is important as Biden seeks to raise more money for his US employment program. Technical details are yet to be developed. It will take at least 2023 before the deal goes into effect.
The agreement was announced by the Paris-based Economic Cooperation and Development Organization. The deal covers a portion of the profits of…
Read the full article at: https://presstories.com/2021/08/03/130-companies-are-restructuring-the-global-minimum-tax-for-large-companies/