Global Tax Deal Moves Closer

“An effort to enact the biggest overhaul to the international tax system in a century gained further momentum on Friday when Hungary, one of the remaining holdouts in a group of more than 130 nations, said it would agree to adopt a 15 percent global minimum tax rate,” the New York Times reports.

“A deal, which is expected to be announced later Friday, would represent the culmination of years of fraught negotiations that were revived this year after President Biden took office and renewed America’s commitment to multilateralism.”