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136 countries agreed to a global minimum corporate tax rate. What now?

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Last month, 136 countries agreed to a global treaty that would tax large companies at a rate of at least 15 percent. POLITICO’s Ryan Heath talks with the OECD’s Pascal Saint-Amans, who led negotiations on the historic deal, on stage at the annual Web Summit in Lisbon, Portugal, about when the tax kicks in and what loopholes he’s on high alert for. Plus: Saint-Amans dishes on a Biden Cabinet member who supports a global carbon price system.

On trying to get world leaders on the same page

“You have to drag them. You have to herd cats. You have 140 countries — China, U.S., Europe, tax havens, African countries; many divides in all that. And you’re not even in a room — you’re on the Zoom because we had COVID during the last mile of this negotiation. So a lot of political calls — ministers to ministers and I was trying to orchestrate that with the convincing argument, which is if you don’t agree, that’s going to be…

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