In the twenty-first century, nations are experimenting with aggressive and strategic fiscal policies to draw in foreign direct investments (or “FDIs”) due to the rapid development, globalization, and digitization of economies. Countries use a strategy known as “Race to the Bottom,” in which tax rates are aggressively reduced in an effort to draw in MNC investments. MNCs are now able to decrease their tax liability by navigating complicated worldwide tax environments thanks to this phenomenon. The OECD’s Pillar Two Initiative (also known as “Pillar Two”) suggests implementing a Global Minimum Tax Agreement (GMTA) to address the prevalent concerns in this environment. The GMTA would set a baseline tax rate of 15% for multinational corporations. By guaranteeing a basic tax levy irrespective of the operating location of the multinational corporations, this new baseline corporate tax rate aims to lessen tax competitiveness. Although reform is historic on a global scale and aims to reduce aggressive tax evasion and guarantee a more equitable distribution of revenue among jurisdictions, it also raises a number of unspoken issues and ramifications. Based on published OECD papers, this article explores the main aspects of implementing the GMTA. Aside, the paper also examines the important facets of persistent problems resulting from the GMTA and difficulties in putting it into practice. Finally, it emphasizes how crucial equity and a just plan are to the implementation of a more secure and sustainable financial environment in today’s society.