Global tax overhaul is endorsed by 130 nations but not Ireland

Ireland joins eight other countries failing to sign up to rules that would curtail tax evasion by making multinational companies pay an effective rate of at least 15%

Pedestrians pass the Facebook European headquarters in Dublin. Picture: Chris Ratcliffe/Bloomberg

The world took a big step toward sweeping changes to global taxation as 130 countries and jurisdictions endorsed setting a minimum rate for corporations along with rules to share the spoils from multinational firms like Facebook and Google.

However, Ireland declined to sign a statement backed by 130 of 139 countries negotiating a global overhaul of cross-border taxation of multinationals at the Paris-based OECD.