Global Minimum Tax to Reduce Low-Taxed Profit by 70%, OECD Says (1)

The global minimum tax that’s part of the OECD-led international tax pact is expected to lower the amount of global low-taxed profit by 70%, according to the organization’s economic impact statement.

In a tax report delivered to the G20 Friday, the Organization for Economic Cooperation and Development said that the 15% global minimum tax is expected to rake in $200 billion annually, and that by 2025 more than 90% of multinational corporations making over 750 million euros ($803 million) will be subject to it.

The OECD acknowledged, however, that the relief provided to companies ...