The G-7 finance ministers to strike a landmark deal on the taxation of multinational companies, from tech giants

The contract is going to be a global minimum of a 15 per cent corporate income tax, which would apply to a foreign country

The%20G-7%20finance%20ministers%20to%20strike%20a%20landmark%20deal%20on%20the%20taxation%20of%20multinational%20companies%2C%20from%20tech%20giants%20
source: https://ibb.co/sCyxHjM

In a landmark deal that has been recognized by the world's richest countries on a Saturday night, it's going to be a global minimum corporate tax rate are placed on the multinational companies, including tech giants such as Amazon, Apple, and Microsoft.

After two days of talks in London, the finance ministers of the Group of Seven, or G-7 countries said they had agreed to meet with a world-wide basis, the rate of corporate income tax of at least 15 per cent of the time.

Changes should be made in order to allow for large companies, especially those with a strong online presence, then it would be subject to tax in the countries in which they set a record at the point of sale, and not just when they have an operational base.

The minister of finance Janet Yellen, who took part in the talks in London, you will be greeted with the deal, writing on Twitter that the ministers had "a significant and unprecedented commitment that has resulted in a huge boost in the direction of the realization of a robust global minimum tax at a rate of at least 15 per cent of the time."

British finance minister Rishi Sunak, who is the president of the church, and referred to it as "a proud moment", which would be the creation of a level playing field for businesses across the globe.

The other G-7 members are Canada, France, Germany, greece, hungary, Italy, and Japan is a signatory to the joint statement, which said the non-binding agreement would be a "tax challenges arising from globalization and digitalization of the economy, and the establishment of a global minimum tax."

"As President, Joe Biden, was originally proposed by the commission, with a minimum global corporate tax rate is the tax that companies pay on their profits by up to 21 per cent. However, in the last month, the finance ministry has put forward a plan for a "floor" of 15 per cent.

The leaders of the Group of 20, or g20, the major economies, including emerging markets, such as China and India, it is also likely that they have been lobbying for, as the floor of the building.

Public treasury, a lot of people are not very expensive, due to the corona-virus pandemic, which, for many of the more affluent countries have borrowed trillions of dollars of support to the economy, there is a lack of them, is now a pressing need to reinvent themselves.

Patrick Holden, a professor of international political economy at the uk's University of Plymouth, massachusetts, told NBC News that the deal was a "historic," and that's a big change after years of rampant competition.

And he said, adding that the deal would help to "balance" the relationship between the state and big business.

Calling it a "great victory" to the Offer of the government, and, in particular, that She said, however, that the small countries are less likely to reap the benefits of the alliance. While the tech giants are the most affected, other types of multi-national companies would be trapped by the global climate agreement, " he added.

In the united states, it has been suggested that the amount of the new global minimum tax is the world's 100 largest and most profitable companies.

A final agreement is likely to have a significant effect on the low-tax countries and tax havens, but that the national authorities were able to have a little bit of the local corporate income tax rates, which they will have to do the work.