(Corrects date in the first sentence to Wednesday not Tuesday.)
PARIS, July 15 (Reuters) - Countries applying a global minimum tax on multinational companies saw corporate tax revenues rise without a corresponding loss of jobs or investment, the Organisation for Economic Co-operation and Development said on Wednesday.
The global minimum tax was designed to curb a decades-long race to the bottom in corporate taxation by allowing countries to levy top-up taxes when profits are taxed below 15% elsewhere, reducing the benefits of booking profits in low-tax jurisdictions.
More than 60 countries and territories have implemented the rules, while many others are preparing to do so.
The Paris-based OECD estimated that the tax increased government revenue by €79 billion to €109 billion ($90 billion to $124 billion) in its first year, equivalent to 2.4% to 3.4% of global corporate income tax receipts.
PARIS, July 15 (Reuters) - Countries applying a global minimum tax on multinational companies saw corporate tax revenues rise without a corresponding loss of jobs or investment, the Organisation for Economic Co-operation and Development said on Wednesday.
The global minimum tax was designed to curb a decades-long race to the bottom in corporate taxation by allowing countries to levy top-up taxes when profits are taxed below 15% elsewhere, reducing the benefits of booking profits in low-tax jurisdictions.
More than 60 countries and territories have implemented the rules, while many others are preparing to do so.
The Paris-based OECD estimated that the tax increased government revenue by €79 billion to €109 billion ($90 billion to $124 billion) in its first year, equivalent to 2.4% to 3.4% of global corporate income tax receipts.
17 days ago
