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A total of 130 countries had in July agreed to a overhaul of global tax norms to ensure that multinationals pay taxes wherever they operate and at a minimum 15% rate ....
The agreement reached by the finance ministers of the advanced economies at the G-7 meeting on taxing MNCs stands on two main pillars: one, a global minimum corporate tax (GMCT) rate of 15%, and two, “reaching an equitable solution on the allocation of taxing rights, with market countries awarded taxing rights on at least 20% of profit exceeding a 10% margin for the largest ....
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