On the 8th day of October 2021, a major reform of the international tax system was finalized at the Organization for Economic and Community Development (OECD). This reform will ensure that multinational enterprises who earn profits above 750 Million Euros will now be subject to a minimum 15% tax rate starting from 2023.
In our article titled “Global Minimum Tax Rate Agreement And Its Implications On Nigeria’s Tax Regime” we highlight how this reform affects developing countries and its implication on multinational enterprises.
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GLOBAL MINIMUM TAX RATE AGREEMENT