145 countries to amend global tax agreement

More than 145 countries agreed on Monday to amend a 2021 global minimum corporate tax agreement, addressing Washington’s concerns the rules could penalize US multinational companies.

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The Organization for Economic Cooperation and Development (OECD) said the fresh package preserves the 15% global minimum tax framework designed to ensure large multinationals pay a baseline tax wherever they operate.

The update includes simplifications and carve-outs to align US minimum tax laws with global standards, accommodating earlier objections raised by the Trump administration.

OECD Head Mathias Cormann said in a statement the arrangement “enhances tax certainty, reduces complexity, and protects tax bases.”