(From Left) European Commissioner for Economy Paolo Gentiloni, Eurogroup President Paschal Donohoe, President of the World Bank David Malpass, Italy's Economy and Finance Minister Daniele Franco, France's Economy and Finance Minister Bruno Le Maire, Canada's Finance Minister Chrystia Freeland, Britain's Chancellor of the Exchequer Rishi Sunak, Managing Director of the IMF Kristalina Georgieva, Germany's Finance Minister Olaf Scholz, US Treasury Secretary Janet Yellen, Secretary-General of the Organisation for Economic Co-operation and Development (OECD) Mathias Cormann, and Japan's Finance Minister Taro Aso pose for a family photoon the second day of the G7 Finance Ministers Meeting, at Lancaster House in London on June 5, 2021. - AFP
LONDON, June 5 (AFP): Finance ministers from wealthy G7 nations on Saturday night (June 6) endorsed a global minimum corporate tax rate of at least 15 percent, rallying behind a US-backed plan targeting tech giants and other multinationals accused of not paying enough.
US Treasury Secretary Janet Yellen hailed the "unprecedented commitment", saying in a statement that a global minimum tax "would end the race to the bottom in corporate taxation".
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