G-7 commits to global minimum tax of at least 15 percent
By Naomi Jagoda - 06/05/21 08:31 AM EDT
Top finance officials in the Group of Seven (G-7) on Saturday announced their commitment to push for a global minimum tax of at least 15 percent in international tax negotiations, a rate advocated by the Biden administration.
G-7 finance ministers and central bank governors said in a statement following a meeting in London that they strongly support the multilateral negotiations "to address the tax challenges arising from globalisation and the digitalisation of the economy and to adopt a global minimum tax."
The G-7 consists of the United States, Canada, France, Germany, Italy, Japan and the United Kingdom.
The announcement is in line with the priorities of the Biden administration, which proposed a global minimum tax rate of at least 15 percent last month. The G-7 finance officials said in their statement that they would push for the rate to apply on a country-by-country basis.
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https://thehill.com/policy/finance/556986-g-7-commits-to-global-minimum-tax-of-at-least-15-percent
