Leaders of the world¡¯s largest economies hailed a recent agreement to overhaul global corporate tax rules as key ensuring multinationals paid their fair share of tax.
The October deal established a global minimum corporate tax rate of 15% aimed at curtailing profit-shifting to lower-tax jurisdictions such as Ireland, where many large international firms have their European headquarters. ¡°It will eliminate incentives to shift jobs and profits abroad,¡± U.S. President Joe Biden in early October.
But some companies could still use Ireland to reduce their tax bills even after the agreement takes effect, according to tax specialists and a review of corporate filings.
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