OECD – Agreement on Global Tax Reform – Economy

Members of the Organization of Industrialized Nations OECD have virtually all agreed on a comprehensive reform of corporate taxation. Companies active internationally should therefore pay at least 15% tax regardless of their location, the Organization for Economic Co-operation and Development (OECD) announced on Friday after a meeting in Paris. The regulation is expected to enter into force from 2023. Of the 140 members of the OECD, only Kenya, Nigeria, Pakistan and Sri Lanka have not yet joined the agreement. The former low-tax country, Ireland, on the other hand gave in on Friday.

The OECD expects the minimum tax alone to generate $ 150 billion (around € 130 billion) in additional tax revenue around the world. Almost all OECD countries had already given their approval at the operational level, including well-known tax havens like the Cayman Islands. The G20 countries had already agreed on the reform in the summer.

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