G20 deal raises the minimum tax rate for big tech companies

Large tech companies may soon have to pay significant taxes no matter what tax loopholes they had before. BBC Newsreports G20 leaders have reached an agreement that would set a global minimum tax rate of 15 percent for large companies. The long-in-the-making deal should be official as of today (October 31st) and would be enforced starting in 2023. The US originally pitched the concept to prevent companies from using creative accounting (such as the "Double Irish arrangement") to avoid paying mos...