Ambitious tax initiative only "start of long and difficult r

Ambitious tax initiative only "start of long and difficult road:" analysts


Ambitious tax initiative only "start of long and difficult road:" analysts
Xinhua
13 Jul 2021, 06:55 GMT+10
ROME, July 12 (Xinhua) -- When finance ministers from the world's largest economies agreed to push for a minimum global corporate tax, it was hailed as a major victory in an effort to make it harder for big companies to dodge taxes. But analysts said it's only "the start of a long and difficult road" and the hardest part of the process is yet to come.
Finance and economy ministers from the Group of 20 (G20) countries, after two days of talks in Venice, on Saturday agreed to start work on adopting a minimum 15-percent global corporate tax rate for multinational companies -- something the ministers called "a more stable and fairer international tax architecture." The agreement came days after the Organization for Economic Cooperation and Development (OECD) adopts a similar objective.

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