G7 finance ministers reach historic agreement on taxes on multinational companies

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                In a move described by the British finance minister as historic, the finance ministers of the Group of Seven countries agreed to impose a global tax on companies of no less than 15 percent, according to a joint statement issued Saturday after a two-day meeting in London.
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                                    <p>Finance ministers pledge <a target="_blank" href="https://www.france24.com/ar/أوروبا/20210506-مجموعة-السبع-تختتم-اجتماعها-بانتقاد-الصين-وروسيا-وإيران-ووعود-بإيصال-لقاحات-فيروس-كورونا-للدول-الفقيرة" rel="noopener"><strong>G7 countries</strong></a> to impose a global minimum corporate tax rate of "at least 15%", according to a joint statement published Saturday after a two-day meeting in London.

A statement of the finance ministers of the group’s countries said, “We pledge to reach an equitable solution on the allocation of taxation rights, as countries will have the rights to tax at least 20 percent of profits exceeding the 10 percent margin of the largest and most profitable multinational companies.”

French Economy Minister Bruno Le Maire comments on the event


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“We will provide the necessary coordination between the implementation of the new international tax rules and the abolition of all digital services taxes and other similar measures related to all companies,” the statement added.

British Finance Minister Rishi Sunak, whose country currently holds the G7 presidency, described the agreement between the seven major powers as “historic”, while Germany welcomed the “good news of justice and tax solidarity.”

FRANCE 24/AFP/Reuters

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