Global minimum tax nears reality as OECD sets model rules

According to the OECD, the minimum tax pillar could generate about US$150bil (RM627bil) a year in additional revenue for countries around the world.

NEW YORK: A global minimum tax came closer to becoming a reality as the Organisation for Economic Cooperation and Development (OECD) published model rules that governments can use to make the world’s largest corporations pay at least 15% on their profits.

The Paris-based organisation drafted the rules after about 140 countries agreed to a sweeping rethink of taxation in October.