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‘Historic’ deal to reform international tax backed by G20

World’s biggest economies back ‘historic’ agreement to reform international tax – piling pressure on smaller countries to sign up

The world’s biggest economies have backed the ‘historic’ agreement to reform international tax – piling pressure on smaller countries to sign up. 

Ministers from the G20 group of nations said they endorsed a minimum global tax rate of 15 per cent, and plan to force big tech to pay tax where they make their profits. 

The deal has already received the backing of the G7 last month and 130 of the 139 countries in the OECD group of nations.

Deal: Ministers from the G20 group of nations said they endorsed a minimum global tax rate of 15 per cent

The G20 ministers called on the remaining OECD countries to sign up to the ‘historic agreement’, and said negotiators must ‘swiftly address the remaining issues’ before the next meeting in October. 

Chancellor Rishi Sunak welcomed the move, saying: ‘I’m delighted that the full weight of the G20 is behind this historic tax deal.’

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