Taxes are mandatory contributions levied on individuals or corporations by a government entity—whether local, regional or national. The word in focus over here is ‘government entity’. Due to globalization, big companies have a major chunk of its revenue as international income which is not taxable in the country of earning as company is off shore. So, to counter it GMT has been mooted.
Please go through the workbook and answer the required question accordingly:
Mains Work Book No.66 - Global Minimum Corporate Tax-converted.pdf (271.3 KB)