A Global Deal Aimed at Ending Tax Havens Gains Momentum


People with knowledge of the negotiations said that while the 15 percent rate was essentially a done deal, some of the world’s biggest countries continued to battle for exemptions to dampen its impact on longstanding economic models that have helped draw investment and create jobs.

“I’m fully determined to pave the way for a consensus because we are one millimeter away from a global agreement on a new international taxation system for the 21st century,” Bruno Le Maire, France’s finance minister, said on CNBC on Wednesday. “Of course there are some member states asking for a delay, asking for an implementation period, a transition period; we are totally open to that kind of proposals.”

Despite growing support for the agreement, concerns remain about how it will be enforced and if it will be enacted uniformly worldwide.

India, China, Estonia and Poland have said the minimum tax could harm their ability to attract investment with special lures…

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