Nine countries have refused to sign onto an international tax reform framework that includes a 15 percent global minimum corporate tax pushed by the Biden administration as a way to reduce international tax arbitrage by U.S. multinationals and blunt the impact of President Joe Biden’s proposed domestic corporate tax hike.
While officials from 130 out of 139 countries in the so-called OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting agreed last week to establish the new framework, Ireland, Estonia, Hungary, Peru, Barbados, Saint Vincent and the Grenadines, Sri Lanka, Nigeria, and Kenya did not sign the agreement.
