In October this year, Organization for Economic Cooperation and Development and USA’s Treasury officials brokered an agreement among almost 140 countries which will form a new transformative Global Tax regime. They are now working hard to shape the deal in such a way that it can bridge Washington’s political divide and get broadening support by convincing corporate lobbyist that such a global pact is their best bet.
A key for this plan to work out is a unique move which will create new rights for around the world governments so that they can tax a group of 100 companies, out of which almost half are USA based. So, the change would require a very strong backing in Congress.
