G7 leaders reach 'historic' agreement to crackdown on tech giants by forcing Amazon, Facebook, and others to pay more tax
The G7 group of wealthy nations has reached a"historic agreement" on taxing multinational companies.It also pledges to introduce a global minimum corporate tax rate of 15 percent. Finance ministers for some of the world's wealthiest nations have reached a"historic agreement" to tackle tax abuses by internet giants and to introduce a global minimum corporate tax rate of 15 percent.
"I am delighted to announce that today after years of discussion G7 finance ministers have reached a historic agreement to reform the global tax system," Rishi Sunak, the UK's Chancellor of the Exchequer, said after a Group of Seven meeting in London. "To make it fit for the global digital age, but crucially to make sure that it is fair so that the right companies pay the right tax in the right places and that's a huge prize for British taxpayers," Sunak added.
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