And we are live from coventry cathedral, the Uk City of culture. Street performers and artists are moving through the city to avoid mass crowds due to covid restrictions. Good afternoon. Welcome to bbc news. The Chancellor Rishi Sunak has announced what he called A Historic Agreement to reform the global Tax System. The agreement by the G7 Group of Finance Ministers is set to include a global minimum rate of corporation tax. The Base Rate of at least 15 is seen as a starting point, but is lower than the minimum rate of 21 that had been proposed by president biden. The plans are also set to stop major multinational companies, include apple and microsoft, from paying little or no tax in countries where they make money. The uk chancellor, Rishi Sunak, said businesses should pay the right amount of tax in the right place. Our Business Correspondent Katy austin reports. How much tax should multinational companies, particularly tech giants, pay, and where should they pay it . Those were the
The first big event during their year as Uk City of culture take place in coventry after a six month delay. Good afternoon. Welcome to bbc news. The Chancellor Rishi Sunak has announced what he called A Historic Agreement to reform the global Tax System. The agreement by the G7 Group of Finance Ministers is set to include a global minimum rate of Corporation Tax. The Base Rate of at least 15 is seen as a starting point, but is lower than the minimum rate of 21 that had been proposed by president biden. The plans are also set to stop major multinational companies, include apple and microsoft, from paying little or no tax in countries where they make money. The uk chancellor, Rishi Sunak, said businesses should pay the right amount of tax in the right place. Many of the Tech Giants have welcomed the agreement. The former deputy prime minister and now facebook s Vice President of global affairs, nick clegg, said the social Media Giant had called for reform of global Tax Rules and wanted t
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