A global agreement to set a minimum 15% corporate tax rate cleared its last major hurdle on 7 October after Ireland, a low-tax country that is the European headquarters for some of the largest US tech companies, said it would join the overhaul effort.

The change in Irish policy comes ahead of an 8 October meeting of 140 governments and jurisdictions that have for years been negotiating a way of taxing international companies to limit avoidance and divide tax revenue in a way they say is fairer. The group seems likely to give its backing to a final agreement that would aim for implementation in 2023.