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The G7 reached a landmark deal on Saturday (June 5) to pursue higher global taxation on multinational businesses such as Google, Apple and Amazon.And Facebook - which said it welcomed the deal and accepted this could mean it would pay more tax.The United States, Britain and five other leading advanced economies agreed to back a minimum global corporate rate of at least 15% and for companies to pay more tax in the markets where they sell goods and services.It's a step that could raise hundreds of billions of dollars to help them cope with the aftermath of the past year's economic turm...

Finance ministers from the group of seven rich countries (G7) will vow this week to support their economies as they emerge from the pandemic and reach an "ambitious" deal on a minimum global corporate tax in July, a draft communique indicates.G7 officials, set to meet in London on June 4-5, will also say that once the recovery is well established, they will need to "ensure long-term sustainability of public finances," which is understood to be code for a gradual withdrawal of stimulus.