The Global Minimum Tax is a proposed tax framework aimed at ensuring that multinational corporations pay a minimum level of tax on their profits, regardless of where they operate. This initiative seeks to prevent companies from shifting profits to low-tax jurisdictions, which can lead to significant tax revenue losses for countries. The idea gained momentum through discussions among the G20 nations and was influenced by the work of the Organisation for Economic Co-operation and Development (OECD). By establishing a global standard, the goal is to create a fairer tax system that promotes economic equity and reduces tax competition among countries.