The G7 group of wealthy nations have signed a landmark deal to tackle tax abuses by some of the world’s biggest multinationals and establish a minimum global corporation tax for the first time.
Finance ministers from the world’s richest economies agreed the historic deal on Saturday as part of talks held in London, the chancellor, Rishi Sunak, said.
As part of the plan, finance ministers also agreed to the principle of a global minimum rate that ensures multinationals pay tax of at least 15% in each country in which they operate.
Sunak said: “These seismic tax reforms are something the UK has been pushing for and a huge prize for the British taxpayer – creating a fairer tax system fit for the 21st century. » | Phillip Inman | Saturday, June 5, 2021
