A New Way to Tax Global Corporations, Explained: QuickTake

More than six years of work has produced an agreement to update the global tax system, targeting so-called tax havens and addressing complaints that giant technology companies don’t pay enough. For the first time there would be a minimum corporate tax rate applied around the world, set at 15%, so companies have less incentive to move operations to low-tax jurisdictions. The profits of about 100 of the biggest multinational corporations, including Amazon.com Inc., would be sliced differently for taxation purposes, so that more countries share in the tax revenue. And there would be an end to the so-called digital services ...