the devastating conflict in ethiopia as the un warns that hundreds of thousands could starve. are live inside coventry cathedral ruins for uk city of culture. street performers are moving through the city to avoid attracting large crowds due to coronavirus restrictions. hello and welcome if you re watching in the uk or around the world. finance ministers of the world s leading economies remain confident of striking an historic deal in london today on taxing tech giants. the agreement by the g7 group of finance ministers is set to include a global minimum rate of corporation tax. the base rate of 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. germany s
pay, and where should they pay it? those were the questions at the heart of these discussions between g7 finance ministers. today a consensus to back a global minimum rate of at least 15%. i am delighted to announce today after years of discussion g7 finance ministers have reached a historic agreement to reform the global tax system to make it fit for the global digital age but crucially to make sure it is fair so that the right companies pay the right tax in the right places. the deal is seen as a significant development. since at least ten years ago and earlier there has been dissatisfaction that lots of companies moved their headquarters to very low taxjurisdictions. but it has been really hard to come up with a global deal on corporation tax. some countries including the uk have already introduced their own digital services tax. there had been pressure from the us to drop them quickly as part of this deal. asked if the uk would now do that the chancellor said the measure
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? th
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 rule