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G7 nations have agreed to close cross-border tax loopholes
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Taxing times: The G7 deal will end what Janet Yellen terms a ‘30-year race to the bottom on corporate tax rates’.
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AFP
G7 nations have agreed to close cross-border tax loopholes
Finance Ministers from the Group of Seven (G7) rich nations on Saturday reached a landmark accord setting a global minimum corporate tax rate, an agreement that could form the basis of a worldwide deal.
The deal aims to end what U.S. Treasury Secretary Janet Yellen has called a “30-year race to the bottom on corporate tax rates” as countries compete to lure multinationals.