The Group of 20 finance ministers have formally backed a global plan to overhaul where and how multinationals are taxed and set a minimum 15% corporate tax rate.

The OECD-brokered deal—backed by 136 countries— has been years in the making. It now heads into a new phase: Implementation.

Officials will next have to tackle a plan to carry out the deal, including rolling back unilateral digital tax measures and drafting model treaties and legislation for countries to use to implement the new rules.

On this episode of our weekly Talking Tax podcast, reporter Hamza Ali talks about the latest developments and what's ahead as countries look to implement the historic agreement.

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