Reactions were swift to a 136-country agreement announced by the Organisation for Economic Cooperation and Development on Friday setting a minimum global tax rate for big companies of 15% and making it harder for them to avoid taxation.
"For decades, American workers and taxpayers have paid the price for a tax system that has rewarded multinational corporations for shipping jobs and profits overseas. This race to the bottom hasn’t just harmed American workers, it’s put many of our allies at a competitive disadvantage as well.""We now have a clear path to a fairer tax system, where large global players pay their fair share wherever they do business.
"We’ve turned tireless negotiations into decades of increased prosperity – for both America and the world. Today’s agreement represents a once-in-a-generation accomplishment for economic diplomacy.""The aim is to create legal certainty for the companies concerned. Switzerland – like other countries – is critical of the OECD's timetable, as it does not yet sufficiently respect national legislative processes.
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