G7 summit: finance ministers agree on global corporate tax

G7 summit: finance ministers agree on global corporate tax

The Finance G7, which brings together the ministers of the seven richest countries, met on Saturday, June 5, in London (United Kingdom), for the first time since the start of the pandemic. A global agreement on corporate taxation is on the table.

G7 summit: finance ministers ready to agree on global corporate tax

In London (UK), G7 finance ministers gathered on Saturday June 5 to discuss a historic global deal on corporate taxation. Unlike Donald Trump, who sabotaged global tax negotiations three years ago, “Joe Biden is quite proactive”, explains the journalist Valéry Lerouge, live for the 13 Hours of France 2. The health crisis has cost dearly to all countries of the world, and this context makes the fight against tax evasion or tax dumping more favorable.

A global tax on GAFA

“The seven ministers agreed on the principle of a minimum rate on corporate tax and on a tax dedicated to digital giants”, adds the reporter. This minimum corporate tax should be 15%, whether they are domiciled in the United States, in India or Brazil, for example, which could limit tax competition between countries. Internet giants, GAFA, are notably accused of playing between the rates of several countries to pay as little tax as possible.