G7 finance ministers agree global minimum corporate tax of at least 15%
The 'historic' agreement to commit to a minimum global corporate tax could end decades of countries competing to attract corporate giants with low tax rates.
Finance ministers from the G7 nations on Saturday pledged to commit to a minimum global level of corporate tax of at least 15%
The deal aims to get multinationals — particularly tech giants — to pay more into government coffers hit hard by the pandemic.
"I am delighted to announce that today after years of discussion G7 finance ministers have reached a historic agreement to reform the global tax system," said British Finance Minister Rishi Sunak, who was chairing the talks.
"The G7's decision on international tax justice is historic," Germany's Finance Minister Olaf Scholz said in a statement.
"This is a starting point and in the coming months we will fight to ensure that this minimum corporate tax rate is as high as possible," Le Maire said.
