Back in 2021, the world’s richest countries announced plans to agree and enforce a minimum rate of corporation tax. The idea was to solve the problem of large companies generating huge revenues but paying very little tax into the public purse.
But the Organisation for Economic Co-operation and Development (OECD) recently admitted that this groundbreaking international deal will not in fact be implemented in 2023, as had been hoped. Mathias Cormann, the OECD’s secretary-general, spoke of “difficult discussions” taking place over the “historic and very important” idea.
