LONDON (REUTERS) - The United States, Britain and other leading nations reached a landmark deal on Saturday (June 5) to pursue higher global taxation on multinational businesses such as Google, Apple and Amazon.
In a move that could raise hundreds of billions of dollars to help them cope with the aftermath of Covid-19, the Group of Seven (G-7) large advanced economies agreed to back a minimum global corporate rate of at least 15 per cent and for companies to pay more tax in the markets where they sell goods and services. G-7 finance ministers have reached a historic agreement to reform the global tax system to make it fit for the global digital age, British finance minister Rishi Sunak said after chairing a two-day meeting in London.
G7 finance ministers reached a historic agreement on Saturday to reform global taxation on multinational companies such as Google, Facebook, Apple and Amazon.
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