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G20 agrees to close gaps by tech giants to cut corporate taxes

R Sinduja

News Editor
Image Credit: shortpedia

Group of 20 ministers agreed to compile common rules to close loopholes used by global tech giants to lower their corporate taxes. Facebook, Google, Amazon, and other large tech firms face criticism for cutting their tax bills by booking profits in low-tax countries regardless of the location of the end customer. The US has significant concerns with the 2 corporate taxes proposed by France & the Uk.