LONDON: The Group of Seven (G7) rich nations secured a landmark deal that could help countries collect more taxes from big companies and enable governments to impose levies on US tech giants such as Amazon.com Inc and Facebook Inc.
The agreement by the G7 finance ministers in London satisfies a US demand for a minimum corporate tax rate of “at least 15%” on foreign earnings and paves the way for levies on multinationals in countries where they make money, instead of just where they are headquartered.
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