G7 strikes ‘historic’ agreement over global corporate tax


Following a two-day gathering in London, the G7 says in a final communique that it will ‘commit to a global minimum tax of at least 15% on a country-by-country basis’. – EPA pic, June 5, 2021.

FINANCE ministers from wealthy G7 nations today endorsed a global minimum corporate tax of at least 15%, rallying behind a US-backed plan targeting tech giants and other multinationals accused of not paying enough. 

US Treasury Secretary Janet Yellen hailed the “unprecedented commitment”, saying in a statement that a global minimum tax “would end the race to the bottom in corporate taxation”.


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