Biden Gets Support From G7 On Minimum Corporate Tax Rate Of 15%

Credit: Andy Rain/EPA-EFE


Finance ministers from the Group of 7 nations on Saturday backed President Joe Biden’s plan to overhaul the global tax system with a minimum tax on corporate earnings.

“G7 finance ministers today after years of discussion have reached a historic agreement to reform the global tax system, to make it fit for the global digital age and, crucially, to make sure that it’s fair so that the right companies pay the right taxes in the right places and that’s a huge prize for British taxpayers,” British Finance Minister Rishi Sunak said in a video posted to Twitter.

“This is a very proud moment, and I want to thank my G7 finance minister colleagues for their collective leadership and for their willingness to work together to seize this moment to strike a deal of historic significance that finally brings our global tax system into the 21st century,” Sunak continued.

The agreement was made at a G7 meeting in London, according to the post.

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