Big Tech companies like Apple and Google would be among the giant international companies facing global tax of 15% under a new agreement from 130 countries and jurisdictions.
While the framework announced Thursday by the Organisation for Economic Co-operation and Development does not mean immediate new levies on the companies, it represents agreement from roughly 90% of the world's GDP on how to tax firms that station themselves where rates are low.
Low-tax countries such as Ireland, where tech giants often incorporate in Europe, could see their attractiveness to business decrease and were among the nine that did not sign on to the deal, according to POLITICO.
The two-pillar deal, which will be finalized in October and would require countries to change their laws, comes as nations including France had put levies on "digital services" offered by companies like Google, angering the U.S.
Instead, the deal offers to assign some taxing rights for the biggest companies "from their home countries to the markets where they have business activities and earn profits, regardless of whether firms have a physical presence there."