OECD Suggested Minimum Tax Rates Receives Resounding Approval

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According to the Federal Minister of Germany for Finance Mr Olaf Scholz, discussions with several bodies in the OECD and G20 Forum has been successful in agreeing an international minimum corporate tax standard. The matter will be discussed again at this month’s meeting of G20 members, and again at the G7 summit in August later this year. The talks will look at approving the system with the other 128 OECD jurisdictions in summer. The Irish Minister for Finance has suggested the reason for the proposals success so far is down to global preferences for an OECD solution to taxation rates as opposed to unilateral actions.