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Britain said the world was relying on a gathering of some of the richest nations to agree reforms to outdated global tax rules, as finance ministers from the Group of Seven started a two-day meeting in London on Friday.
The gathering, chaired by British finance minister Rishi Sunak, is the first time the ministers have met face-to-face since the start of the coronavirus pandemic. Rich nations have struggled for years to agree a way to raise more tax from large multinational companies such as Google, Facebook and Amazon, which often book profits in jurisdictions where they pay little or no tax. U.S. President Joe Biden's willingness to raise taxes on large businesses now creates more chance of an international consensus than under his predecessor Donald Trump, and a need to repair COVID-hit public finances makes it more pressing.
https://www.reuters.com/business/g7-finance-ministers-meet-london-broker-global-tax-deal-2021-06-03/
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