URGENT: G-7 agrees on at least 15% int'l minimum corporate tax rate

Politics Economy

Finance ministers from the Group of Seven industrialized nations agreed Saturday on a global minimum corporate tax rate of 15 percent as the United States has proposed, paving the way for a more inclusive consensus among nearly 140 countries. The first in-person G-7 finance talks since July 2019 came as momentum builds for implementing a common minimum tax rate for globally operating companies, with the aim of preventing them from shifting profits to low-tax jurisdictions, following a recent U.S. proposal for a tax of at least 15 percent on corporate earnings.

Kyodo News

Kyodo News