Stay updated with breaking news from Tax observatory. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
An ambitious 2021 agreement by more than 140 countries and territories to weed out tax havens and force multinational corporations to pay a minimum tax has been weakened by loopholes and will raise only a fraction of the revenue that was envisioned, a tax watchdog backed by the European Union has warned. ....
An EU watchdog group estimates that a 15% minimum tax could have raised roughly $270bn in 2023. With the loopholes, it says, that drops to about $136bn. ....