Global Tax Reform Is On Track, but Hurdles Remain

(Oxford Analytica) — The agreement on the international taxation of corporations is expected to be finalized at October’s G20 meeting. More than 130 countries have agreed rules to allow the minimum taxation of excess corporate profits and a formula for allocating revenue shares by country. However, several EU states have yet to agree to the former, while the latter faces resistance in the United States, where a two-thirds congressional majority is needed.