Shisunak After the Ministers of Finance, welcomed the next step towards an international commercial tax agreement G20 Major economic groups in Venice
The Minister of Finance pledged to support an agreement aimed at changing international rules by introducing a minimum corporate tax rate of 15%.
The agreement reached by the Organization for Economic Cooperation and Development (OECD) also means that online giants can collect taxes in the countries where they do business, even if they do not have a physical presence there.
132 countries and jurisdictions accounting for 95% of the world’s GDP have signed the agreement within the OECD.
In his speech in Venice after the two-day G20 meeting, the Chancellor of the Exchequer said: “I am very pleased that all the power of the G20 supports this historic tax agreement-this will ensure that our global tax system is suitable for the goals of the digital age. , And the key is fairness.
“We must continue to maintain this momentum in the coming months and work together as the international community to establish a fairer tax system, combat tax avoidance and improve our streets.”
The G20 also reaffirmed the need to take urgent action to address climate change and biodiversity loss, and pledged to support the poorest countries in coping with Covid-19.
