Global Tax Overhaul Endorsed by 130 Nations

The video discusses a global tax deal involving 130 countries, aimed at making multinational companies pay a minimum tax rate of 15%. The deal, celebrated by the White House, is expected to generate $150 billion in extra revenue for governments. It faces political challenges, particularly from countries like Ireland and Hungary, and requires approval from the G20 and US Congress. Implementation is targeted for 2023, but depends on overcoming political obstacles.

What is the minimum tax rate agreed upon by 130 countries for multinational companies?

• 12.5%

• 20%

• 10%

• 15%

Which major tech company is mentioned as being subject to the new tax rules despite having profit margins below 10%?

• Amazon

• Google

• Facebook

• Apple

Which countries have not yet joined the global tax deal, according to the transcript?

• Germany and France

• Hungary and Ireland

• Spain and Italy

• Canada and Mexico

What is one of the major political challenges mentioned in implementing the global tax deal?

• Convincing the European Union

• Approval from the United Nations

• Approval from the G20 finance ministers

• Support from the World Bank

By what year is the implementation of the global tax deal targeted?

• 2022

• 2023

• 2024

• 2025