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G20 finance ministers signed off global tax deal; key points about the plan and its current status

Finance ministers from the G20 club of large economies have backed a plan for global tax reform. A quick summary:

July 12, 2021 / 07:46 PM IST
Finance ministers from the G20 club of large economies have signed off a plan for global tax reform. A quick summary
Finance ministers from the G20 club of large economies have backed a plan for global tax reform. A quick summary:
A total of 130 countries have agreed to a global tax reform deal to ensure that multinationals pay their fair share wherever they operate. (Image: News18 Creative)
A total of 130 countries have agreed to a global tax reform deal to ensure that multinationals pay their fair share wherever they operate. (Image: News18 Creative)
The deal is being touted as the largest overhaul of the international tax system in a century. (Image: News18 Creative)
The deal is being touted as the largest overhaul of the international tax system in a century. (Image: News18 Creative)
The deal aims to achieve worldwide minimum rate and a fairer international tax architecture. (Image: News18 Creative)
The deal aims to achieve worldwide minimum rate and a fairer international tax architecture. (Image: News18 Creative)
The 15 percent minimum tax rate was agreed under the auspices of the Organisation for Economic Cooperation and Development (OECD). (Image: News18 Creative)
The 15 percent minimum tax rate was agreed under the auspices of the Organisation for Economic Cooperation and Development (OECD). (Image: News18 Creative)
The minimum tax rate is expected to affect fewer than 10,000 major companies. (Image: News18 Creative)
The minimum tax rate is expected to affect fewer than 10,000 major companies. (Image: News18 Creative)
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