G20 finance ministers on board with global minimum tax

G20 finance ministers on board with global minimum tax
A cheerful Wilkommen to Hamburg, courtesy of Europe's rent-a-mob services. 2017. File. (Image: Screen grab of TheRealNews video, YouTube)

[Ed. – Somebody was just waiting to rush this one into the global forums.  There should be more pushback on this.]

G20 finance ministers have backed an “historic” plan which will see multinational companies pay their “fair share” of tax around the world.

The plan to battle tax avoidance puts in place a minimum global corporate tax rate of 15%.

It is likely to affect companies like Amazon and Facebook.

Trending: New coronavirus strain dominates in the United States, but death rate is lower than last year

So far, 132 countries have signed up to the framework, being championed by The Organisation for Economic Cooperation and Development (OECD).

The agreement is a further boost for the plan signed up to by leaders of the G7 major economies in Cornwall a month ago.

Continue reading →

Comments

For your convenience, you may leave commments below using Disqus. If Disqus is not appearing for you, please disable AdBlock to leave a comment.