6/5/2021, 6:56 PM (Source: TeleTrader)
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EU welcomes G7's global tax decision

European Council President Charles Michel described on Saturday the Group of Seven's (G7) decision to support a minimum global corporate tax of at least 15% as a "historic agreement" and a "huge leap forward" towards multilateralism that "makes our world fairer."

Meanwhile, European Union High Representative for Foreign Affairs and Security Policy Josep Borrell noted the move "paves way for a global agreement on fair business taxation." He added that Brussels will "contribute to make it happen and end race-to-bottom in global taxation of multinationals."

Earlier, European Commission President Ursula von der Leyen remarked the agreement represents a "big step towards fairness and a level-playing field."

Baha Breaking News (BBN) / JR