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International Tax Law has extensive ramifications on the wealth gap between wealthy developed nations and poor developing nations. This divide in prosperity has been made clear again in the global response to the COVID-19 pandemic. Developing nations are currently ill-equipped to adapt to, and regulate, an equitable system of taxation on a domestic level. A further challenge is the difficulty of ensuring that foreign investors, especially multinational corporations, are able to comply with tax regulations. Developed nations such as the United States and members of the European Union must continue to work with developing nations to reduce tax evasion and increase revenues in a manner that is equitable for developing nations. The recent enactments of the Global Intangible Low-Tax Income (“GILTI”) and the Base Erosion Anti-Abuse Tax (“BEAT”) aim to ensure that multinational corporations comply with U.S. tax rates. GILTI and BEAT provide developing countries a framework for raising tax revenues from multinational companies. These tax innovations may help developing nations raise tax revenues, but they also restrict the ability of these nations to create their own tax schemes. If developing nations can coordinate a tax scheme that allows them to raise revenue from multinational corporations, they will ensure a more equitable distribution of resources and contribute to closing the global wealth gap.