Global minimum tax is coming to town

By TAN HOOI BENG and KELVIN YEE

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WHAT is global minimum tax (GMT) and who will be affected?

GMT is a once-in-a-lifetime global tax reform, meant to end tax competition and profit shifting. It is aimed at ensuring that multinational companies (MNCs) pay the right amount of taxes, that is at 15%, regardless of where they operate.

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