The first-year assessment found higher effective tax rates for large multinationals, with limited evidence of weaker investment or employment after implementation.
The OECD said the 15% global minimum tax on large multinationals raised government revenue by €79 billion to €109 billion, or about $90 billion to $124 billion, in its first year, equal to 2.4% to 3.4% of global corporate income tax receipts. The tax applies to multinational groups with annual revenue of at least €750 million, and more than 60 jurisdictions have enacted the rules under a broader 2021 agreement involving over 135 countries and territories. Based on observed company behaviour after implementation rather than pre-launch modelling, the OECD found that firms subject to the regime faced higher effective tax rates, with little evidence of job cuts, lower investment or a broad shift to tax havens. The revenue outcome was below the organisation’s earlier long-run projection of $155 billion to $192 billion a year, or roughly 60% to 65% of that range. The first Global Investment Revenue filings were due by June 30, 2026. The OECD’s crypto-specific reporting work remains separate under the Crypto-Asset Reporting Framework, and the new assessment did not identify notable crypto-market implications.