Historic agreement on taxation at the G7: global tax on multinationals

LONDON – For the radiant British finance minister and landlord Rishi Sunak it is a “seismic event”. For the European Commissioner for the economy Gentiloni “it is extraordinary, it happens once every hundred years and without the multilateralism of the Biden administration it would never have been possible”. For the US Treasury Secretary, Janet Yellen, “this unprecedented agreement will put an end to the race of taxation to the bottom”, while the Italian Prime Minister Mario Draghi calls it “a historic step”.