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Friday, January 21, 2022

OECD confirms deal on global minimum corporate tax rate of 15% has been reached

The Organisation for Economic Cooperation and Development (OECD) has confirmed a global deal to ensure large companies pay a minimum corporate tax level of 15% has been agreed.

“Today’s agreement will make our international tax arrangements fairer and work better,” OECD Secretary-General Mathias Cormann said.


“This is a major victory for effective and balanced multilateralism.”

The OECD confirmed four countries – Nigeria, Kenya, Pakistan and Sri Lanka – had not yet signed up to the agreement.

The agreement aims to end the race to the bottom tax race among countries attempting to entice large multinationals.


The OECD has said the deal will cover 90% of the global economy.

Ireland yesterday announced that it will join the agreement, which will end the decades long 12.5% corporate tax level used to attract large multinational companies.

IMAGE – Paschal Donohoe


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