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Minimum Corporate Tax
October 15 , 2021
1139 days
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- 136 countries, including India, agreed to enforce a minimum corporate tax rate of 15% and an equitable system of taxing profits of big companies in markets where they are earned.
- Big multinationals such as Apple, Alphabet and Facebook, as well as those such as Nike and Starbucks are funnelling profits through low-tax jurisdictions to avoid paying taxes.
- The new proposal is thus aimed at minimising the opportunities for multinational enterprises (MNEs) to indulge in profit-shifting.
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