Companies escape a global tax

"Probably dead in the water", is Joseph Stiglitz’s verdict on the planned global minimum tax on multinational company profits.

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After decades of campaigning by the Nobel Prizewinning economist, the OECD and the Tax Justice Network among others, this minimum tax was on the brink of being implemented, thereby ending or at least slowing the hit to tax revenues in mainstream economies due to multinationals shifting their profits to low-tax havens.