Amazon and Facebook to fall under new G7 tax rules - Yellen

U.S. Treasury Secretary Janet Yellen poses as finance ministers from across the G7 nations meet at Lancaster House in London, Britain June 5, 2021 ahead of the G7 leaders' summit. Alberto Pezzali/Pool via REUTERS

LONDON (Reuters) - Both Amazon and Facebook will fall under new proposals for a global minimum corporation tax agreed by the Group of Seven on Saturday, United States Treasury Secretary Janet Yellen said.

Asked whether the two companies would be covered by the proposal, Yellen said: "It will include large profitable firms and those firms, I believe, will qualify by almost any definition."