All G7 economies have scheduled domestic implementation of the global corporate tax rate of 15 per cent, says OECD Secretary-General Mathias Cormann.
Mr Cormann discussed the progress of the OECD’s ‘Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy’.
“Once you’ve got sizeable jurisdiction, like for example the European Union and a number of others, legislating for a global minimum tax … it becomes self-defeating and counterproductive for other countries not to follow suit,” Mr Cormann told Sky News Australia.
“I’m quietly optimistic that when it’s all said and done, this reform will be implemented.”
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