Global tax reform targeting tech, big firms delayed to 2025

Global taxation reforms aimed at ensuring tech giants and other major international firms pay their fair share will come into effect in 2025, a year later than previously planned, with the nearly 140 participating countries and regions needing more time to prepare.

The Organization for Economic Cooperation and Development has been designing a multilateral treaty to enforce the new rules, under which companies with 20 billion euros ($22 billion) or more in global sales and a profit margin above 10 percent will be targeted.

The one-year delay is intended to give enough time for the members, incl...