The OECD’s 2026 Economic Impact Assessment, released July 15, found that the 15% global minimum tax on large multinationals generated between €79 billion and €109 billion (roughly $90–$124 billion) in its first year of implementation. The report also concluded the tax did not cause significant job losses or deter investment, countering earlier fears from critics.
Tax revenue and context
The first-year revenue haul represents 2.4–3.4% of global corporate income tax receipts, but fell short of the OECD’s earlier projections of $155–$192 billion annually. The tax applies to multinational enterprises with revenues of at least €750 million, and over 60 jurisdictions have enacted the rules as part of a 135-country agreement from 2021. The first Global Investment Revenue filings were due June 30, 2026.
The OECD emphasized the assessment is based on observed company behavior, not pre-implementation forecasts. Companies subject to the rules showed higher effective tax rates but did not respond by slashing workforces or relocating to tax havens en masse.
Broader implications
That no notable employment effects materialized is arguably the most significant finding. Critics had warned the tax would stifle investment and lead to job losses, but the data suggests those fears were overblown, at least in the first year.
Relevance for crypto
The global minimum tax does not directly affect crypto. It targets traditional corporate profits. The OECD’s separate Crypto-Asset Reporting Framework (CARF) handles digital asset reporting standards. No notable market reactions or commentary from the crypto sector have been observed regarding the GMT’s implementation.