Some 130 countries have agreed to establish a global minimum corporate tax rate of at least 15 percent. 

The Organization for Economic Cooperation and Development(OECD) said on Thursday in a statement that the 130 countries representing more than 90 percent of global gross domestic product made the agreement.

According to Reuters, Ireland and eight other countries have not signed the global deal. 

The OECD estimates the minimum rate is expected to generate around 150 billion dollars in additional global tax revenue annually.

Under the agreement, the countries also agreed to reallocate some taxing rights on global companies' profits based on where sales are made rather than where earnings are declared. 

The OECD plans to produce a detailed agreement by October and implement it from 2023.