TOKYO -- Negotiators from 130 nations and territories on Thursday reached a broad agreement on corporate taxation meant to halt a race to the bottom in tax rates and pin down borderless tech giants.
The proposed plan calls for a minimum tax rate of at least 15%, an amount pushed for by U.S. President Joe Biden's administration. At the same time, a new digital tax would target about 100 tech companies that make at least 20 billion euros ($23.7 billion) in revenue with a profit margin of 10%.
