Britain and the rest of the world’s largest nations are on the brink of agreeing to the biggest global tax reforms for a century.
It means the UK will be able to capture billions of pounds in taxes from technology giants and other big companies which shift profits around the world.
An agreement from the G7 group of nations – which also includes the US, Japan and Germany – could be reached as early as next Friday when finance ministers meet in London.
The central pillar of the deal will force companies to pay tax in the countries where their consumers spend their money, rather than shift them overseas. Some claimed the changes could shift £70billion of tax globally.