Corporations around the world should pay at least a 15% tax on their earnings this is the call coming in for the US Treasury as it proposes a global minimum tax.
Major economies are looking to discourage internationally present companies from shifting profits and tax revenues - to low-tax countries regardless of where their sales are made.
So if companies pay lower rates in a particular country like Ireland or Bermuda their 'home' governments could "top-up" their taxes to the agreed minimum rate, eliminating the advantage of shifting profits to a tax haven.
Next step comes in with OECD and G20 to agree on a rate and also applicability norms.