6/5/2021, 1:10 PM (Source: TeleTrader)
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G7 reach 'historic' minimum global tax deal

The finance ministers of the countries comprising the Group of Seven (G7) voiced on Saturday their support for United States President Joe Biden's proposal of a minimum global corporate tax of "at least 15% operated on a country-by-country basis."

British Chancellor of the Exchequer Rishi Sunak described the deal as a "historic agreement" that will create a "more level playing field" and a "cracking down on tax avoidance." Still, he noted this is "just a first step" and that even more progress will have to be made at the next meeting of the Group of 20 (G20).

The G7 also supported "moving towards" mandatory disclosure on environmental risks companies' operations create.

Baha Breaking News (BBN) / JR