G7 finance talks to seek corporate tax deal ...Middle East

News by : (Daily Sun) -
LONDON: Group of Seven (G7) finance chiefs gather this week to hammer out an agreement on corporate tax harmonisation aimed at raising revenues as economies recover from the coronavirus pandemic.Finance ministers descend on London Friday and Saturday, before a leaders’ summit the following week that is to include US President Joe Biden.Washington wants a minimum 15% rate of corporate tax to prevent multinationals like tech giants from gaming the system to boost profits.The G7 will also discuss the post-Covid recovery, climate change, and digital currency regulation.Biden’s tax proposal has so far won broad support and a “political agreement” could be unveiled this week, according to a Europe

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