Global Tax Overhaul Nears Historic Deal Ahead of G20 Meeting

The transcript discusses the OECD's new tax framework, which introduces a minimum 15% tax rate for global companies and reallocates tax rights to the jurisdictions where services are provided. While 130 out of 139 OECD countries have agreed, some, including Ireland, have reservations due to economic impacts. The agreement sets the stage for a G20 deal, but consensus is not yet achieved.

What are the two main pillars of the OECD's new tax framework?

• A minimum tax rate of 10% and tax incentives for local businesses

• A minimum tax rate of 15% and reallocation of tax rights to service jurisdictions

• A maximum tax rate of 20% and tax credits for exports

• Tax exemptions for international companies and a flat tax rate

How many countries have agreed to the OECD's new tax framework?

• 130 out of 139 countries

• All 139 countries

• 100 out of 139 countries

• Only the G7 countries

What is the main concern of countries that have not agreed to the OECD's tax framework?

• The framework is too complex to implement

• The framework does not address digital services

• The minimum tax rate could exceed 15%

• The framework does not include enough tax incentives

Why is Ireland hesitant to agree to the OECD's tax framework?

• They disagree with the reallocation of tax rights

• They want to focus on domestic tax policies

• They benefit from being a low tax jurisdiction

• They prefer a higher minimum tax rate

Which country is mentioned as wanting the 15% tax rate to be just a starting point?

• Germany

• United States

• France

• Italy