G20 to endorse OECD deal on global minimum corporate tax - draft
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BRUSSELS - The world's financial leaders will endorse on July 9-10 a deal setting a global minimum corporate tax and call for technical work to be finished so they can approve the framework for implementation in October, their draft communique showed.
"After many years of discussions and building on the progress made last year, we have achieved an historical agreement on a new, fair and stable international tax architecture," the draft said.
"We endorse the core elements of the two pillars on the profit reallocation of multinational enterprises and the global minimum tax as set out in the statement released by the G20/OECD Inclusive Framework on Base Erosion and Profit Shifting (BEPS)," it said.
"We call on the G20/OECD Inclusive Framework on BEPS to swiftly finalise the remaining technical work with a view to approving the framework for implementation of the two pillars by our next meeting in October," the draft, seen by Reuters, said.
