The goal of the pact is to prevent multinational companies to abuse the current tax system. The minimal global corporate tax should be at least 15% and it will not be possible anymore to shop around for the lowest tax rate. Leaders of economies of G-20 agreed during meeting about the tax plan, as was confirmed by German Finance Minister Olaf Scholz, regarding to Reuters.

Leaders have plans to create more fair and stable tax architecture. Updated system will redirect part of the taxes from huge multinationals pay to the countries where their products or services are sold. Now are taxes going to the country they’re headquartered in. This change will mainly hit companies as Amazon and Alphabet’s Google.

Performance of 5 years for Alphabet (Source: Investing.com)