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International relations

Global deal sets 15% minimum corporate tax in 2023

136 countries agree on reform to hit brakes on race to the bottom

The tax reform framework agreement is set to be implemented in 2023 and was announced by the Organization for Economic Cooperation and Development.   © Reuters

TOKYO -- A total of 136 countries and jurisdictions agreed Friday to adopt a 15% global minimum corporate tax rate from 2023 and let countries collect taxes from multinational enterprises that offer services within their borders even without a physical presence there.

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