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The OECD's global tax deal signals a return to more cooperative times after the Trump administration’s America First approach.

I've been speaking to daniel bunn at the tax foundation about the significance of this deal. this is a deal, as you mentioned, for a generation or even multiple generations. it's been about 100 years since this sort of agreement has been met and get there is still a lot of road to run as far as implementing the deal by seeing whether countries actually follow through on their commitments and of course the impact on businesses and the global economy. the concern is, i suppose, that a lot of people have been voicing, that the big companies that are being targeted in this — the googles and the ...

Of taxable profits so it is something where they are taking on the cost but bringing into something where they think they can still be attractive to multinational investment. what would you say to the claims that it will be mainly richer companies who will benefit from this and the poorer countries will see their tax incomes decrease? those claims are largely true. a lot of the companies that are in scope are already headquartered in larger, relatively rich countries. so those countries are going to be claiming a larger share of the profits that those companies are earning and developing count...

It is the most significant overhaul of the international tax system in a generation. after negotiations in paris headed by the 0ecd, an agreement was finally announced to provide a minimum rate of corporation tax. president biden says it will even the playing field around the world. here is how it will work. the minimum rate will be set at 15% — lower than the global average but higher than, for example, ireland's12.5% rate. 136 countries have signed up. 0nly kenya and nigeria, pakistan and sri lanka have refused. the organisation for economic co—operation and development, which brokered t...

Who will benefit from this and the poorer countries will see their tax incomes decrease? those claims are largely true. a lot of the companies that are in scope are already headquartered in larger, relatively rich countries. so those countries are going to be claiming a larger share of the profits that those companies are earning and developing countries are not going to be claiming as much. a lot of developing countries would have liked to see a large reallocation but apparently, that was not in the cards for this political agreement. daniel bunn from the tax foundation. donald trump has been...