On October 2021, Nearly 140 countries agreed to the most sweeping overhaul of global tax rules in a century, a move that aims to curtail tax avoidance by multinational corporations and raise additional tax revenue of as much as $150 billion annually. The reform sets out a global minimum corporate tax of 15%, targeted at preventing companies from exploiting low-tax jurisdictions. Treasury Secretary Janet Yellen said the floor set by the global minimum tax was a victory for the U.S. and its ability to raise money from companies.

Summarize the agreement. What are your thoughts on the agreement?

What major Internal Revenue Code sections are being modified? Internal Revenue Code sections

What are some current tax haven countries that will see a decline in tax revenues?

Will companies still be able to get around these tax laws?