FILE - In this June 7, 2017 file photo, the Organisation for Economic Co-operation and Development (OECD) headquarters is pictured in Paris, France. Some 130 countries have backed a global minimum tax as part of a worldwide effort to keep multinational firms from dodging taxes by shifting their profits to countries with low rates. The agreement announced by the Organization for Economic Cooperation and Development Thursday also provides for taxing the largest global companies in countries where they earn profits through online businesses but may have no physical presence.(AP Photo/Francois Mori, File)

FRANKFURT, Germany — Some 130 countries have agreed on a global minimum tax backed by President Joe Biden as part of a worldwide effort to keep multinational firms from dodging taxes by shifting their profits to countries with low rates.

The agreement announced Thursday is an attempt to address challenges presented by a globalized and increasingly digital world economy in which profits can be relocated across borders and companies can earn online profits in places where they have no taxable headquarters.

The deal calls for a global minimum tax of at least 15%, a key element pushed by Biden as he seeks to raise more revenue for his infrastructure and clean energy plans. Technical details still need to be worked out and it would be at least 2023 before the agreement takes effect.

The agreement, announced by the Paris-based Organization for Economic Cooperation and Development, also provides for taxing part of the profits of the largest global companies in countries where they do business online but may have no physical presence.

French Finance Minister Bruno Le Maire called it “the most important international tax agreement in a century.”

Countries led by France have already started imposing unilateral digital taxes aimed at U.S. tech giants such as Amazon, Google and Facebook; under the deal, they would agree to withdraw those taxes, regarded as unfair trade practices by the U.S., in favor of the global approach.

Not all of the 139 countries that joined the talks signed on to the deal. Ireland's finance ministry said it had “broad support” for the approach used in the agreement but could not agree to the 15% minimum. Finance Minister Paschal Donohoe has said the country's 12.5% rate is a “fair rate.” Ireland said it would “constructively engage” in discussions going forward.

Signers included Bermuda and the Cayman Islands, regarded by economists as tax havens, and major economic powers China and India.

More discussion is expected at the meeting of the G-20 finance ministers in Venice next week.