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Plans for a Global Minimum Tax Revolution, Explained
Multinational companies have long used creative but legal ways to shrink their tax bills. One is to book profits from customers in places like Boston and Berlin as if they came from, say, Bermuda, which has no corporate income tax. The world’s richest economies have agreed to a revamp of the global tax system that would undercut the effectiveness of such a strategy while also changing reallocating the taxes paid by huge technology companies.
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