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22 Jun 2021

Draft Communique: G20 to endorse OECD deal on global minimum corporate tax – Reuters

G20 financial leaders are expected to endorse in July a potential OECD deal on minimum global corporate tax, Reuters reported, citing the draft communique.

Key quotes from the draft

"After many years of discussions and building on the progress made last year, we have achieved a historical agreement on a new, fair and stable international tax architecture.”

"We endorse the core elements of the two pillars on the profit reallocation of multinational enterprises and the global minimum tax as set out in the statement released by the G20/OECD Inclusive Framework on Base Erosion and Profit Shifting (BEPS).”

"We call on the G20/OECD Inclusive Framework on BEPS to swiftly finalize the remaining technical work with a view to approving the framework for implementation of the two pillars by our next meeting in October."

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AUD/USD struggles near daily lows, around 0.7500 mark

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