<p>Leaders of G20 countries on Saturday (October 30), agreed on a historic corporate tax reform deal that will bring&nbsp;corporate tax at minimum level&nbsp;of 15 per cent. The rules will come into force in 2023.</p>

<p>"We call on the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting to swiftly develop the model rules and multilateral instruments as agreed in the Detailed Implementation Plan, with a view to ensure that the new rules will come into effect at global level in 2023," the draft conclusions, seen by Reuters, said.</p>

<p>US Treasury Secretary Janet Yellen welcomed the agreement</p>

<p>"Today, every G20 head of state endorsed an historic agreement on new int’l tax rules, including a global min tax that will end the damaging race to the bottom on corporate taxation. It’s a critical moment for the US &amp; the global economy. I congratulate @POTUS on this achievement." she said on Twitter.</p>

<p><strong>Also Read | <a href="https://www.wionews.com/world/g20-summit-biden-macron-merkel-johnson-discuss-iran-deal-on-sidelines-425373">G20 Summit: Biden, Macron, Merkel, Johnson discuss Iran deal on sidelines</a></strong></p>

<p>In another tweet, she said that the deal would "remake the global economy into a more prosperous place for American business and workers"</p>

<p><strong>Also Read | <a href="https://www.wionews.com/world/g20-summit-kicks-off-in-rome-with-focus-on-climate-covid-and-economy-425330">G20 Summit kicks off in Rome with focus on climate, COVID and economy</a></strong></p>

<p>"This deal will remake the global economy into a more prosperous place for American business &amp; workers. Rather than competing on our ability to offer lower rates, America will now compete on the skills of our people, our ideas &amp; our capacity to innovate—which is a race we can win," she said.</p>

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<p dir="ltr" lang="en">Today, every G20 head of state endorsed an historic agreement on new int’l tax rules, including a global min tax that will end the damaging race to the bottom on corporate taxation. It’s a critical moment for the US &amp; the global economy. I congratulate <a href="https://twitter.com/POTUS?ref_src=twsrc%5Etfw">@POTUS</a> on this achievement. <a href="https://t.co/bOh0O7cbnn">https://t.co/bOh0O7cbnn</a></p>
— Secretary Janet Yellen (@SecYellen) <a href="https://twitter.com/SecYellen/status/1454466487276687375?ref_src=twsrc%5Etfw">October 30, 2021</a></blockquote>
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<p>US President Joe Biden welcomed the development as well.</p>

<p>"Here at the G20, leaders representing 80% of the world’s GDP – allies and competitors alike – made clear their support for a strong global minimum tax. This is more than just a tax deal – it’s diplomacy reshaping our global economy and delivering for our people.</p>

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<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">Here at the G20, leaders representing 80% of the world’s GDP – allies and competitors alike – made clear their support for a strong global minimum tax. This is more than just a tax deal – it’s diplomacy reshaping our global economy and delivering for our people.</p>
— President Biden (@POTUS) <a href="https://twitter.com/POTUS/status/1454454364081430530?ref_src=twsrc%5Etfw">October 30, 2021</a></blockquote>
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Leaders of G20 countries on Saturday (October 30), agreed on a historic corporate tax reform deal that will bring corporate tax at minimum level of 15 per cent. The rules will come into force in 2023.

Leaders of G20 countries on Saturday (October 30), agreed on a historic corporate tax reform deal that will bring corporate tax at minimum level of 15 per cent. The rules will come into force in 2023. "We call on the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting to swiftly develop the model rules and multilateral instruments as agreed in the Detailed Implementation Plan, with a view to ensure that the new rules will come into effect at global level in 2023," the draft conclusions, seen by Reuters, said. US Treasury Secretary Janet Yellen welcomed the agreement "Today, every G20 head of state endorsed an historic agreement on new int’l tax rules, including a global min tax that will end the damaging race to the bottom on corporate taxation. It’s a critical moment for the US & the global economy. I congratulate @POTUS on this achievement." she said on Twitter. Also Read | G20 Summit: Biden, Macron, Merkel, Johnson discuss Iran deal on sidelines In another tweet, she said that the deal would "remake the global economy into a more prosperous place for American business and workers" Also Read | G20 Summit kicks off in Rome with focus on climate, COVID and economy "This deal will remake the global economy into a more prosperous place for American business & workers. Rather than competing on our ability to offer lower rates, America will now compete on the skills of our people, our ideas & our capacity to innovate—which is a race we can win," she said. Today, every G20 head of state endorsed an historic agreement on new int’l tax rules, including a global min tax that will end the damaging race to the bottom on corporate taxation. It’s a critical moment for the US & the global economy. I congratulate @POTUS on this achievement. https://t.co/bOh0O7cbnn — Secretary Janet Yellen (@SecYellen) October 30, 2021 × US President Joe Biden welcomed the development as well. "Here at the G20, leaders representing 80% of the world’s GDP – allies and competitors alike – made clear their support for a strong global minimum tax. This is more than just a tax deal – it’s diplomacy reshaping our global economy and delivering for our people. Here at the G20, leaders representing 80% of the world’s GDP – allies and competitors alike – made clear their support for a strong global minimum tax. This is more than just a tax deal – it’s diplomacy reshaping our global economy and delivering for our people. — President Biden (@POTUS) October 30, 2021 ×

G20 leaders agree on historic corporate tax deal

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G20 leaders agree on historic corporate tax deal