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A New Way to Tax Global Corporations, Explained


The Group of 20 nations — which represent about 90% of the global economy — finalized key details in October. So far, 136 countries have signed on, out of 140 countries involved in negotiations overseen by the Organization for Economic Cooperation and Development, with Kenya, Nigeria, Pakistan, and Sri Lanka holding out. Crucially, those now on board include Ireland and Hungary, which until now have benefited from having some of the lowest corporate tax rates in Europe. Another European holdout, Estonia, has also signed on.

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