G7 Reaches "Historic Agreement" on Global Tax Reform |
Written by <a href="index.php?option=com_comprofiler&task=userProfile&user=59713"><span class="small">Oriana Gonzalez, Axios</span></a> |
Monday, 07 June 2021 08:19 |
Gonzalez writes: "The Group of Seven nations on Saturday reached a historic deal to reform the global tax system, agreeing that corporations around the world should pay at least a 15% tax on earnings." G7 Reaches "Historic Agreement" on Global Tax Reform07 June 21
he Group of Seven nations on Saturday reached a historic deal to reform the global tax system, agreeing that corporations around the world should pay at least a 15% tax on earnings. The state of play: The global tax minimum was proposed by Treasury Secretary Janet Yellen last month, per CNN. The new reforms will affect the world's largest firms with profit margins of at least 10%, U.K. Finance Minister Rishi Sunak explained. Get market news worthy of your time with Axios Markets. Subscribe for free.
What they're saying: "G7 finance ministers today, after years of discussions, have reached a historic agreement to reform the global tax system, to make it fit for the global digital age — and crucially to make sure that it’s fair so that the right companies pay the right tax in the right places," Sunak said.
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