G7 nations strike deal to tax big companies, squeeze havens

LONDON—

U.S. Treasury Secretary Janet Yellen said the "significant, unprecedented commitment" would end what she called a race to the bottom on global taxation. Rich nations have struggled for years to agree a way to raise more revenue from large multinationals such as Google, Amazon and Facebook, which often book profits in jurisdictions where they pay little or no tax.

Irish finance minister Paschal Donohoe, whose country is potentially a big loser with its 12.5% tax rate, said any global deal also needed to take account of smaller nations.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

G7 nations strike deal to tax big companies and squeeze havensGroup of Seven large advanced economies agrees to back a minimum global corporate rate of at least 15%.
Source: rapplerdotcom - 🏆 4. / 86 Read more »

G7 nations strike deal to tax big companies and squeeze havensGroup of Seven large advanced economies agrees to back a minimum global corporate rate of at least 15%.
Source: rapplerdotcom - 🏆 4. / 86 Read more »

PH shares fall to 6,791 as stocks succumb to profit-takingAfter Wednesday's big jump, Philippine shares retreated due to profit-taking.
Source: ANCALERTS - 🏆 26. / 50 Read more »