By: Ryan Browne
The world’s biggest tech companies are facing a corporate tax avoidance crackdown after the Group of Seven most developed economies agreed to a historic deal.
The G-7 on Saturday backed a U.S. proposal that calls for corporations around the world to pay a minimum 15% tax on profits. The reforms, if finalized, would affect the world’s largest companies with profit margins of at least 10%.
Looking ahead, the G-7 hopes to achieve a wider agreement on the new tax proposals next month at a gathering of the expanded G-20 finance ministers…read more.