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G7 is close to agreement on taxation of world’s largest companies – FT
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Group of Seven countries are close to reaching agreement on the corporate taxation of multinationals, clearing the way for a global deal later in the year, the Financial Times reported.
After the United States agreed to accept a minimum rate of at least 15%, France, Germany and Italy said the new proposal was a good basis for sealing an international deal by July.
Britain said it welcomed the United States’ commitment to finding a solution, but did not comment specifically on the U.S. proposal.
A G7 deal could be agreed as early as Friday after progress was made among top officials in recent days, the FT said.
“The world is closer than ever before to a global minimum tax,” U.S. National Security Adviser Jake Sullivan said on May 22.