G20 deal raises the minimum tax rate for big tech companies | Engadget

The pro-equality group also claimed the deal was "extremely limited" and would affect fewer than 100 companies while generating little money for poorer countries. If the deal collects the promised money, governments could better fund public services and help tackle problems like climate change. BBC News reports G20 leaders have reached an agreement that would set a global minimum tax rate of 15 percent for large companies. Large tech companies may soon have to pay significant taxes no matter what tax loopholes they had before. The arrangement might beat the status quo for G20 nations, but it won't necessarily address some outstanding concerns.Please enter a valid email address Oxfam, for instance, blasted "generous carve outs" that protected sone income and take 10 years to phase out. There are numerous criticisms, however, and not just from those who generally oppose higher taxes.
Large tech companies may soon have to pay significant taxes no matter what tax loopholes they had before. BBC Newsreports G20 leaders have reached an agreement that would set a global minimum tax rat… [+1300 chars]