The IMF has published a working paper entitled Deciphering the GloBE in a Low-Tax Jurisdiction. --- 1. Introduction The ongoing widespread adoption of a minimum effective rate of corporate tax under the Inclusive Framework agreement is changing the rules of tax competition, to some degree limiting it with important ramifications for zero-tax or low-tax jurisdictions. Questions arise as to whether the minimum corporate tax rate can be set so that all countries, including low-tax jurisdictions, are better off? And what responses (to a binding minimum tax) can these jurisdictions consider given the specificities of the Pillar Two rules? This paper...