Not a bad idea, is it?
G-7 finance ministers agree on 15% int'l minimum corporate tax rate
Finance ministers from the Group of Seven industrialized nations agreed Saturday on a global minimum corporate tax rate of at least 15 percent to keep multinationals from shifting profits overseas, paving the way for a more inclusive consensus involving over 100 economies.
The G-7 finance chiefs also commit to set new rules to enable governments to impose duties on where multinational firms make sales, they said in a statement released after wrapping up a two-day meeting in London, amid criticism global digital giants such as Google LLC and Apple Inc. are not paying their fair share of taxes.
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3 comments
Feel free to reply to any comment by clicking the "Reply" button.This is a great accomplishment by the Biden Administration.
nicknotes
Level 8
June 5, 2021
1
It will be interesting to see how this plays out. In theory, absolutely. Since these multinationals hold undue influence (that's being diplomatic) in the G-7 nations, and greed is geometrically proportional to how much money someone has, I'm not optimistic this will actually come to pass.
Druvius
Level 8
June 5, 2021
3
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