G20 leaders commit to engage on global minimum tax, address challenges from digitalisation of economy

G20 leaders have committed to engaging constructively to address concerns regarding global minimum tax and tax challenges arising from digitalisation of the economy, while preserving the tax sovereignty of all countries.

In a declaration issued after the G20 Summit in South Africa, leaders of 20 developing and developed nations also called for a new OECD framework that will enable interested jurisdictions to strengthen international tax transparency on immovable property voluntarily.

"We will continue engaging constructively to address concerns regarding Pillar Two global minimum taxes, with the shared goal of finding a balanced and practical solution that is acceptable for all as soon as possible," said the G20 Summit declaration.

The Organisation for Economic Cooperation and Developme