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The world’s richest governments enter a second day of talks in London seeking to pave the way toward a historic rewrite of the tax code for international business.
Finance ministers from the Group of Seven nations ended Friday closing in on a deal to jointly support a minimum corporate tax rate of at least 15% when broader international negotiations resume. That would signal an end to decades of countries racing each other to lower levies.
Differences remained on how to treat technology companies as part of a related effort to force multinationals to pay more tax in the places they operate. President Joe Biden’s administration is wary of American tech giants such as Facebook Inc. and Amazon.com Inc. getting unduly singled out.
Global Tax
U.S. initiative for OECD could recast landscape for corporations
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