The world’s leading industrial nations reached an accord on June 5 to set a global minimum tax rate, in an effort to discourage multinational corporations from shifting profits to low-tax countries. While the accord is a significant breakthrough, for those seeking international agreement on corporate taxes, there is more work ahead. Group of Seven (G-7) nations agreed to “commit to a global minimum tax of at least 15 percent on a country by country basis,” according to a communique from G7 finance ministers. The group is hoping to reach a similar agreement at the Group of 20 meetings next month, which may lead to a broader deal for the Organization for Economic Cooperation and Development (OECD) this year. For years, the OECD has been coordinating talks among 140 countries on cross border tax reform and aims to reach a conclusion soon. “This agreement is subject to further agreements, there’s a lot of work still to …