G20 greenlights global corporate tax rate of at least 15% to stop ‘race to the bottom’

Euronews.

By Euronews with AP, AFP  •  Updated: 10/07/2021

G20 finance ministers on Saturday approved a tax reform for multinationals that aims to put an end to tax havens, paving the way for a big tax bang that should be in place by 2023.

The proposal to introduce a global corporate tax rate of at 15% has now been approved by more than 130 countries.

France’s Finance Minister Bruno Le Maire described the agreement as a “victory”.

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