Earlier this month, the world’s leading economies inked a historic deal to rewrite the rule book on taxation. The deal, signed by 136 nations including all G20 countries, will introduce a global minimum corporate tax rate of 15% and grant countries new rights to tax large companies based on where they earn their revenues, rather than where they are located.
The culmination of more than four years of development and negotiation, the agreement arguably represents the most significant change to the international tax system for a century. US Treasury Secretary Janet Yellen noted it was “a once-in-a generation accomplishment for economic diplomacy.” 
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