Global Minimum Tax Momentum Gains With G-20 Seeing Mid-Year Deal

April 7, 2021, 4:04 PM

The drive to overhaul global taxes for companies gathered more steam on Wednesday after Group of 20 finance chiefs, encouraged by new U.S. proposals, pledged to reach a consensus on new rules by mid-year.

The finance ministers and central bank governors said they’re committed to “reaching a global and consensus-based solution” on a minimum global corporate rates and how to levy the profits of multinational technology giants.

An agreement could have significant ramifications for the world, bolstering incomes for many governments as they try to rebuild their economies after the pandemic. Others may balk though, as Ireland signaled, and enforcement ...

To read the full article log in. To learn more about a subscription click here.