G20 Leaders Endorse Global Minimum Corporate Tax

World leaders pose with Italian medical team members for a group photograph on day one of the G20 leaders summit in Rome, Italy, on Oct. 30, 2021. Ludovic Marin/Pool via Reuters

Treasury Secretary Janet Yellen has confirmed that leaders of the world’s 20 biggest economies (G20) have endorsed a “historic agreement” on new international tax rules, including a global minimum corporate tax.

A senior White House official told reporters on Friday that G20 leaders would this weekend formalize their endorsement of a deal establishing a global minimum corporate tax rate of 15 percent.