G7 leaders will endorse proposed 15per cent global corporate minimum tax - White House

G7 leaders will endorse proposed 15per cent global corporate minimum tax - White House

WASHINGTON: G7 leaders meeting in Britain will endorse U.S. President Joe Biden's proposal for global minimum tax of at least 15per cent on corporations, White House national security adviser Jake Sullivan said on Twitter on Friday.

The U.S. Treasury in May proposed a global minimum corporate tax of at least 15per cent to try to end a downward spiral of corporate tax rates and deter multinational companies from shifting profits to tax-haven countries.

(Reporting by Eric Beech; Editing by Mohammad Zargham)

Source: Reuters

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