Let's do a little bit of a background or in terms of, from your perspective, the OECD's rule in global tax policy, and maybe what is this global minimum tax intended to address?

Well, thank you for those questions.

And there are, this is a significant development that corporations are focused on.

So let me start with your last question first.

What is the global minimum tax that maybe turned the role of the OECD? And you've laid out some of the key components, but...

The policy grounding for it, what was it born out of is relevant to understanding the role of the OECD as well.

So the global minimum tax was born out of a concern by countries over what was a growing pressure for amongst countries to compete for investment by giving away tax revenue, either by offering incentives or other preferences or by reducing headline rates significantly.

When that is the case, I think boards