Ireland Signs On to Global Deal Seeking to Curb Tax Avoidance

Ireland, a low-tax country that is the European headquarters to some of the largest U.S. technology companies, said it would join a global agreement to set a minimum rate of 15% for taxing corporate profits, easing the way to a final agreement on an overhaul of how multinationals are taxed around the world.

The change in Irish policy clears the last major hurdle needed for a broad consensus, and comes ahead of a Friday meeting among 140 governments and jurisdictions that have for years been negotiating a new way of taxing international companies to cut back on avoidance and divide tax revenues in what they say is a fairer way. The group seems likely to give its backing to a final agreement that would aim for implementation in 2023.

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Source:" WSJ "

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