Countries representing most of the global GDP have agreed to a minimum 15 percent tax on multinationals but the deal falls short of addressing concerns of the developing nations.
The proposal aims to discourage multinationals from moving their profits to tax havens.
The agreement seeks to create a level playing field for companies around the world but critics argue the 15 percent minimum rate is too low.
Italy joins France in defying the US as countries try to make big tech firms pay a fair share of their income in taxes.
A new study has found that hundreds of billions of dollars in corporate profits land in low-tax jurisdiction territories despite an international crackdown.
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