Global company tax shake-up to capture 90pc of multinationals

"We see legislation having gone through in South Korea, we see significant progress in the United Kingdom, in Japan, in Switzerland, in Singapore, in Colombia, legislative proposals coming forward." $US220b boost to budgets Countries accounting for 90 per cent of global GDP have also pledged not to lower their company tax rate below 15 per cent, putting a consistent international floor in place to reduce damaging tax competition. Known as pillar two, the minimum tax rate change is expected to deliver a $US220 billion boost to the budgets of participating countries. "We estimate that based on the countries that have…