U.S. Treasury Secretary Janet Yellen has announced that 130 nations have agreed to proposals by the Organization for Economic Cooperation and Development for a global minimum tax on corporations. India, China, and Turkey, which had been holding out at some point in the negotiations, have joined in the agreement. Nine countries, however, didn’t sign. They are the low-tax European Union members Ireland, Estonia and Hungary, as well as Peru, Barbados, Saint Vincent and the Grenadines, Sri Lanka, Nigeria, and Kenya. The global minimum tax is intended to deter multinational companies from avoiding taxes by holding their profits in countries with low tax rates. Call or visit our website for more information! www.mjscpa.com/
