As of July 1, 2021, 130 countries have agreed to a proposed Global Minimum Corporate Tax (GMCT). Successful implementation of such a standard will close loopholes that have allowed large multinational companies to avoid paying taxes even in countries in which they do substantial business. According to some estimates, a GMCT would help governments recover between 100-240 billion dollars annually in taxes that companies have avoided paying through complicated tax avoidance schemes. While a final practical set of rules is still under negotiation, the framework of an agreement is in place.
Join the Robert Zicklin Center for Corporate Integrity virtually on September 2nd as we welcome a panel of experts who will discuss the recent progress that has been made toward a GMCT, the prospects for its success and the implications it will have on economies worldwide.