Global tax floor at 15% is significant step, says OECD sec gen

A 15% global minimum corporate tax rate would be a “very significant step forward” that leaves countries enough margin to compete, Organization for Economic Cooperation and Development Secretary General Mathias Cormann said.

The comments from the new secretary general at OECD, which is running global talks on the topic, come after the Group of Seven struck a deal for a rate of “at least 15%.” Some countries, including France, said they would still push for a higher floor.

“It’s important we strike the right balance,” Cormann told Bloomberg Television’s Tom Keene and Lisa Abramowicz. “If we were able to achieve a circumstance where all multinational companies operating globally are required to pay at least 15% on their profits, I think that is a very significant step forward.”

A 15% global minimum corporate tax rate would be a “very significant step forward” that leaves countries enough margin to compete, Organization for Economic Cooperation and Development Secretary General Mathias Cormann said.

The comments from the new secretary general at OECD, which is running global talks on the topic, come after the Group of Seven struck a deal for a rate of “at least 15%.” Some countries, including France, said they would still push for a higher floor.

“It’s important we strike the right balance,” Cormann told Bloomberg Television’s Tom Keene and Lisa Abramowicz. “If we were able to achieve a circumstance where all multinational companies operating globally are required to pay at least 15% on their profits, I think that is a very significant step forward.”