G7 nations reach historic deal to tax world`s biggest multinational companies

A group of the world`s richest nations reached a landmark deal on Saturday to close cross-border tax loopholes used by some of the world`s biggest companies. The Group of Seven said it would back a minimum global corporation tax rate of at least 15%, and put in place measures to ensure taxes were paid in the countries where businesses operate. Ministers met face-to-face in London for the first time since the start of the COVID-19 pandemic.