Leaders of the world’s 20 largest economies (the Group of Twenty) will ratify the Organization for Economic Cooperation and Development’s agreement on a global minimum corporate tax of 15 percent, the draft results of the two-day G20 summit showed, on Saturday, with the aim of enacting the rules in 2023.

“We call on the comprehensive OECD and G20 Framework on Base Erosion and Profit Shifting to rapidly develop models and multilateral tools as agreed in the Detailed Implementation Plan, with a view to ensuring that new rules enter into force at the global level in 2023,” Draft Conclusions , which he sees Reuters, She said.

The conclusions are due to be formally adopted on Sunday.

a big deal

In October, 136 countries reached an agreement on minimum taxes for global companies, including internet giants like Google, Amazon, Facebook, Microsoft and Apple to make it harder for them to avoid taxes by setting up offices in low-tax jurisdictions.

“This is more than just a tax deal, it’s a reshaping of the rules of the global economy,” a senior US official told reporters.

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