G7 passes key 'historic' tax reforms

Google and Facebook have welcomed a G7 deal on tackling corporate tax avoidance by big tech companies.

The agreement will see a global minimum corporate tax of at least 15% - lower than a floor of 21% mooted by President Biden - and changes to which countries will benefit.

Chancellor Rishi Sunak called the deal "a proud moment".

[skillfuldabest]

Run for the hills once a politician starts talking about "fairness".

[Pal.Cockrum]

It takes years to tax billionaires yet it only takes the time to post a letter for HMRC to send me my tax bill.

[hulksmash]

Watch all the social media platforms find a way to avoid this, especially Facebook.

[breadboybanana]

One small step for something purposefully too complicated to understand one giant leap towards new world order.

[nev]

As long as there are states like Ireland, Luxembourg, Cayman Islands, Panama, that have not signed up, then there's a way out.

[ivanskavinskiskavar]

"Google and Facebook have welcomed this deal".
Feeling all reassured, now❗

[joshclayg]

"Inject a principle of fairness into the tax system"

Scrap inheritance tax then.

[ONYX-]

This sounds like good news.. 🤨
but I'm skeptical that it'll screw over the average working man; somehow.

[MrJoelDavies]

Remember. Costs are always handed down to the consumer.

[ai.culturalquotes]

Multi-nationalism? Who stands to gain the most profit from this decision. Probably the US.

[sisulart]

Yeah right. They'll soon loophole their way out of that.

[j.v.n]

Wow 15% that's a joke, I wish I paid 15% tax.

[maxflight]

Yellen forgets that when she prints dollars, that is a massive “tax” on workers … (who see the pay for their efforts reduced)

[coroflame]

So sky just decides not to mention that it was meant to be 21% but the tories were the only ones to vote that down so it was negotiated with them to be lower. So yeah thanks rishi for taking credit for something your party wanted to destroy

[bob_]

This new layout looks like a cheap mobile app

[TheBunce]

Anyone else start worrying when they say phrases like “global tax system”??

[christophalex]

SO DID THEY ALL QUARANTINE FOR 10DAYS BEFORE COMING HERE??? THAT IS WHAT I WANT TO KNOW.

[ReverseSideArms]

Ah yes rishi sunak the man who is a centi millionaire and who’s wife has a joint venture in Amazon worth £900 billion is boasting about his “historic tax reform”. Doesn’t seem dodgy whatsoever!

[congoleseyouthnetworkc.y.n]

That lady walking toward the microphones with a mask on, with no one around her. How foolish covid has made everyone.

[douglasnisbet]

Fairness? As if the likes of David Cameron and Boris pay their fair share.