Samsung, SK hynix could face new global taxation rules

Seoul: South Korean chipmakers Samsung Electronics and SK hynix may have to pay part of their corporate taxes to foreign countries where they earn profits under a new landmark global taxation scheme.

A group of 360 countries agreed on a two-pillar deal on Friday to impose a global minimum corporate tax of 15 percent and to share corporate taxes imposed on the profits of multinational companies, in a bid to prevent them from dodging taxes, according to the Organization for Economic Cooperation and Development (OECD).