G20 Finance Heads Urge OECD to Wrap Up Global Tax Reform Talks

The Group of 20 leaned on members of the Organization for Economic Cooperation and Development to quickly wrap up negotiations on the global tax reform plan.

Finance ministers and Central Bank governors said in a communique after meeting in Washington Friday that it encourages backers of the plan to “expeditiously complete the negotiations” so that parts of the deal can be “opened for signing as soon as possible.”

Over 140 countries agreed to the OECD-led reform of international corporate tax rules in October 2021. One part of the deal—Pillar One—would create a system to reallocate corporate profits as a response ...