"Establishing, for the first time in history, a strong global minimum tax will finally even the playing field for American workers and taxpayers, along with the rest of the world," Biden said in a statement. "Facebook has long called for reform of the global tax rules, and we recognise this could mean paying more tax, and in different places." Analysts at Morgan Stanley said that tech hardware, some media services, and healthcare appeared to be the most exposed to a 15% minimum tax rate. 'Increased prosperity'Central to the agreement is a minimum corporate tax rate of 15% and allowing governments to tax a greater share of foreign multinationals' profits. Companies with real assets and payrolls in a country can ensure some of their income avoids the new minimum tax rate.

Source: Dhaka Tribune October 08, 2021 22:41 UTC