G7 finance ministers agree global minimum tax of at least 15%

G7 finance ministers agree global minimum tax of at least 15%
G7 finance ministers agree global minimum tax of at least 15%   -   Copyright  Thomson Reuters 2021   -  
By Reuters

<div> <p><span class="caps">LONDON</span> – Group of Seven rich nations agreed on Saturday to commit to a global minimum tax of at least 15% on a country by country basis. </p> <p>“We commit to reaching an equitable solution on the allocation of taxing rights, with market countries awarded taxing rights on at least 20% of profit exceeding a 10% margin for the largest and most profitable multinational enterprises,” a communique from G7 finance ministers seen by Reuters said. </p> <p>“We will provide for appropriate coordination between the application of the new international tax rules and the removal of all Digital Services Taxes, and other relevant similar measures, on all companies.” </p> <p/> </div>