G7 is close to agreement on taxation of world’s largest companies, reports FT
Group of Seven countries are close to reaching agreement on the corporate taxation of multinationals, clearing the way for a global deal later in the
year, the Financial Times reported.
After the United States agreed to accept a minimum rate of at least 15 percent, France, Germany and Italy said the new proposal was a good basis for sealing an international deal by July.
For the latest headlines, follow our Google News channel online or via the app.
A G7 deal could be agreed as early as Friday after progress was made among top officials in recent days, the FT said.
“The world is closer than ever before to a global minimum tax,” US National Security Adviser Jake Sullivan said on May 22.
“Great to hear the positive reception to our proposal,” he said on Twitter. “This is what it looks like to lead the world to end the race to the bottom.”
Nearly 140 countries aim to reach broad agreement this summer to rework rules for taxing multinational groups and big technology companies, such as Alphabet Inc and Facebook Inc.
Read more: G7 supports extension of G20 debt freeze, calls for reforms to address ‘shortcomings’
When calls for taxation battle the need for charityBoth taxation and charity have critical flaws as methods of assisting society’s less fortunate. Instead, we should encourage a hybrid, whereby people ... Opinion
G7 foreign ministers meet face-to-face after pandemic pauseForeign ministers from the Group of Seven wealthy industrialized nations are gathering Tuesday in London - their first face-to-face meeting in more ... World News
G7 leaders pledge continued fiscal support for economiesLeaders of the Group of Seven industrialized nations pledged during a call on Friday to sustain government spending to help economies recover from the ... Business
G7 supports extension of G20 debt freeze, calls for reforms to address ‘shortcomings’G7 finance ministers on Friday backed an extension of a G20 bilateral debt relief initiative for the world’s poorest countries, but said it must be ... Economy