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new video loaded: G7 Finance Leaders Attain World Tax Fee Deal

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G7 Finance Leaders Attain World Tax Fee Deal

Officers from the Group of seven nations agreed on Saturday to again a brand new international tax price of no less than 15 %, which firms must pay no matter the place their headquarters are primarily based.

I’m delighted to announce that at the moment, after years of debate, G7 finance ministers have reached a historic settlement to reform the worldwide tax system to make it match for the worldwide digital age, however crucially, to guarantee that it’s honest, in order that the appropriate firms pay the appropriate tax in the appropriate locations. And that’s an enormous prize for British taxpayers. It’s a really proud second. And I wish to say thanks to my G7 colleagues for his or her collective management and for his or her willingness to work collectively to grab this second, to succeed in a historic settlement that lastly brings our international tax system into the twenty first century. You already know, it’s difficult. And this is step one. That is settlement amongst G7 finance ministers. And subsequent month, we’ll have a G20 finance ministers summit to make additional progress. However I feel the essential factor for individuals to remove is the precept of equity. That’s what we’ve achieved at the moment, to make sure that there’s a stage enjoying discipline for all sorts of firms. And whether or not it’s individuals working in tax havens or it’s digital firms, we’re going to stage the enjoying discipline and inject that precept of equity into our international tax system.

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