Labor to support global push for minimum 15% tax rate on multinational corporations

Opposition backs OECD approach and says Australians pay more while losing out on funds' as multinationals avoid taxation

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Labor will support the global push for multinationals, like Google and Facebook, to face a minimum 15% tax rate and also limit debt-related deductions - measures which it says will raise $1.89bn over the forward estimates.

The shadow cabinet was meeting on Wednesday morning to sign off on the details of the long-telegraphed policy ahead of an announcement later in the afternoon.

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