The members of the industrialized nations organization OECD have practically all agreed on a global reform of corporate taxation. Internationally active companies should therefore pay at least 15 percent tax regardless of their location, the Organization for Economic Cooperation and Development (OECD) announced after a meeting in Paris on Friday. The regulation should take effect from 2023. Of the 140 OECD members, only Kenya, Nigeria, Pakistan and Sri Lanka have not yet joined the agreement. The previous low-tax country Ireland, on the other hand, gave way on Friday.
The OECD expects the minimum tax alone to generate additional tax revenue of 150 billion dollars (around 130 billion euros) worldwide. Almost all OECD countries had already given their approval at working level, including well-known tax havens such as the Cayman Islands. The G20 countries had already agreed on the reform in the summer.