This is just another step, but an important one: The Organisation for Economic Co-operation and Development (OECD) on Monday published the “model rules” agreed by 137 countries to ensure multinationals pay at least 15 per cent corporation tax in each country where they post profits. The “model rules” format reflects the fact that it is up to each jurisdiction to implement this side of the global deal. Unlike Pillar One of the agreement, which will see an international treaty redirect a portion of corporation tax to the market countries multinationals actually draw profits from, the minimum tax rate of 15…

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