The majority of the world’s countries are nearing a milestone on a historic deal led by the OECD that will make international companies pay an extra $100bn in corporate taxes and shift more of their tax bills to countries where they actually conduct their business.
Technical talks to iron out the details of the plan, which was first struck in July, are set to conclude in Paris late on Friday. Those close to the negotiations expect significantly fewer holdouts than the nine countries — out of 140 in total — that rejected the common position in July.
In a sign that holdout countries are coming on board, EU member Hungary agreed to join on Friday, while Estonia and Ireland signed up to the emerging accord late on Thursday. These joiners open the way for the unanimity that the EU needs from its 27-member bloc to turn the agreement into common EU law.