G7: Rich nations back deal to tax multinationals

really

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The G7 group of advanced economies has reached a "historic" deal on taxing multinational companies.

Finance ministers meeting in London agreed to battle tax avoidance through measures to make companies pay in the countries where they do business.

They also agreed in principle to a global minimum corporate tax rate of 15% to avoid countries undercutting each other.
https://www.bbc.com/news/world-57368247
Will read more once I have a chance.
Not sure how this will impact say Bermuda.
 
There are two principles:

Finance ministers meeting in London agreed to battle tax avoidance by making companies pay more in the countries where they do business.

The significance of this is that if Country A decides to tax Company Y (controlled by capitalists mainly in Country B) on the profit it assesses company
Y makes in Country A; it will be harder for Company Y to successfully lobby its politicians in Country B to undertake sanctions on Country A.

They also agreed in principle to a global minimum corporate tax rate of 15% to avoid countries undercutting each other.

If the first provision works, the second is less important.
 
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