LONDON, June 5 — Finance ministers from wealthy G7 nations yesterday moved towards supporting US-backed plans for a minimum global level of corporate tax aimed at getting multinationals — especially tech giants — to pay more into government coffers hit hard by the pandemic.
“It is increasingly clear that in a complex, global, digital economy, we cannot continue to rely on a tax system that was largely designed as in the 1920s,” Sunak said in opening remarks. According to a draft communique seen by AFP, the finance chiefs and central bankers of the world’s seven richest nations will express “strong support” and a “high level of ambition” over a global minimum corporate tax rate.
“We have a chance to get multinational businesses to pay their fair share,” France’s Le Maire, Germany’s Olaf Scholz, Italy’s Daniele Franco and Spain’s Nadia Calvino said in The Guardian newspaper.
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