G-20 eyes broad int'l corporate tax reform agreement in July

Politics Economy

The Group of 20 major economies plan to strike a broad agreement on international tax reform in July, featuring new rules for the imposition of levies on global technology companies to curb tax evasion, G-20 sources said Saturday. The G-20 is considering allowing countries to impose levies on digital giants with large sales and profit rates of 15 percent and higher even if they do not operate in a country but generate sales and profits there, a practice known as digital taxation, the sources said. The major economies including the United States, China and Japan are also expected to agree on a ...

Kyodo News

Kyodo News