Business Standard

OECD: DEAL REACHED ON GLOBAL MINIMUM CORPORATE TAX RATE

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A global deal to ensure big companies pay a minimum tax rate of 15 per cent and make it harder for them to avoid taxation has been agreed by 136 nations, the Organisati­on for Economic Cooperatio­n and Developmen­t said on Friday. The OECD said four countries - Kenya, Nigeria, Pakistan and Sri Lanka had not joined the agreement. "Today's agreement will make our internatio­nal tax arrangemen­ts fairer and work better," OECD Secretary-general Mathias Cormann said.

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