Global Tax Treaty To Meet Deadline, OECD Tells G20 Ministers

The OECD is on track to finish its multilateral tax treaty to reallocate taxing rights by March, and the global minimum tax will start in more than 35 countries this year, the organization told G20 ministers in a Thursday report.

The Organization for Economic Cooperation and Development’s estimates the global tax treaty will reallocate $200 billion per year, and estimates the global minimum tax will increase tax revenues by at least $155 billion annually, according to the report to G20 finance ministers meeting in Brazil on Wednesday and Thursday.

The global tax deal includes Pillar One, a reallocation of large ...