136 Countries Reach Deal On A Corporate Minimum Tax Of 15%

CNBC: World leaders reach landmark deal on a global corporate tax rate

* The breakthrough comes after some changes were made to the original text.

* Notably that the rate of 15% will not be increased at a later date, and that small businesses will not be hit with the new rates.

* This helped Ireland — a longtime opponent of raising corporate tax rates — to get on board with the plan.

The Organization for Economic Cooperation and Development on Friday announced a major breakthrough on corporate tax rates, after years of disagreement.

The group of developed nations agreed to a global minimum corporate tax rate of 15%.

This marks a huge shift for smaller economies, such as the Republic of Ireland, which have attracted international firms — to a large extent — via a lower tax rate.

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WNU Editor: I still have trouble believing the U.S. Congress will go along with this.

More News On 136 Countries Reaching A Deal On A Corporate Minimum Tax Of 15%

More than 130 countries reach deal on corporate minimum tax -- AP

Nations agree to 15% minimum corporate tax rate -- BBC

World leaders hail agreement on global corporate tax rate -- DW

OECD deal imposes global minimum corporate tax of 15% -- The Guardian

136 countries agree to minimum corporate tax rate after Ireland drops its opposition -- CNN

136 countries agree to deal on global minimum tax -- The Hill

OECD Secures Deal On Sweeping Global Corporate Tax Reform As Last Holdouts Cave -- Zero Herdge

More than 130 countries reach deal on corporate minimum tax -- Canadian Press

EXPLAINER: How global deal stems corporate use of tax havens -- AP