OECD head optimistic on EU tax deal
The head of the Organisation for Economic Cooperation and Development (OECD) on Tuesday said he was “quietly optimistic” a landmark deal to establish a global minimum tax will be approved by European Union members, but implementation may not occur until 2024. OECD Secretary General Mathias Cormann also told a panel at the World Economic Forum in Davos, Switzerland, that it was “manifestly” in the interest of the United States to join the deal struck last year among nearly 140 countries to establish a global minimum tax of 15% on multinational corporations. Approval by the EU has been held up by objections from Poland, which vetoed a compromise in April to launch the 137-country deal.
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