for the first time in nine months. the first big events in their year of uk city of culture take place in coventry after a six month delay. coming up at 6:30, we ll have a round up of the day s sporting action in sportsday. good evening. it s being hailed as a historic agreement that could see global governments make billions. the deal made today by the g7 group of leading economies could shake up the tax system for multinational companies, including big tech giants. it could include a global minimum corporate tax rate of 15% to avoid countries undercutting each other. the chancellor, rishi sunak, said that it will mean firms pay the right tax in the right places . tech companies google and facebook have welcomed the move. here s our business correspondent katy austin. how to stop multinational companies, particularly tech giants, avoiding tax by booking profits in low or no tax jurisdictions, that was one question at the heart of these discussions between the finance mini
after a six month delay. good afternoon. 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, including 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 the process to succeed, even if it meant the company paid more tax. our business corresp
new information technology rules. violence rocks mexico s midterm elections with dozens of politicians killed in recent months. and a pair of white tailed eagles rescued from drowning by two long distance kayakers. hello and welcome if you re watching in the uk or around the world. it s being hailed as a historic agreement , that could see global governments make billions more in tax revenue. the deal made today, by the g7 group of leading economies could shake up the tax system for multinational companies, like big tech giants. it could include a global minimum corporate tax rate of 15% to avoid countries undercutting each other. tech companies google and facebook have welcomed the move. here s our business correspondent katy austin. how to stop multinational companies, particularly tech giants, avoiding tax by booking profits in low or no tax jurisdictions, that was one question at the heart of these discussions between the finance ministers of seven leading economies.
it s being hailed as a historic agreement , that could see global governments make billions more in tax revenue. the deal made by the g7 group of leading economies could shake up the tax system for multinational companies, like big tech giants. it could include a global minimum corporate tax rate of 15% to avoid countries undercutting each other. tech companies google and facebook have welcomed the move. our economics editor faisal islam reports. multinational companies, especially the big tech giants, have become more powerful than some governments, especially in their ability to pay minimal tax bills. today, the finance ministers of the seven leading economies, the g7, hit back with an historic deal brokered by the chancellor rishi sunak. i m delighted to announce that 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 th