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“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...
