SECOND TAKE
GLOBE & MAIL: Hitting ‘Control-Alt-Delete’ on the biggest corporate tax loophole
G7 countries pledge to smoke out use of tax havens by multinationals, particularly internet giants
17 June 2021 - 14:56
In early June, ahead of the Group of Seven leaders’ meeting, G7 finance ministers reached a breakthrough agreement on corporate tax in the digital age, undertaking “to address the tax challenges arising from globalisation and the digitisation of the economy and to adopt a global minimum tax”.
Steps G7 countries are pledging to take could have a huge impact on the future of corporate tax. They aim to reduce the ability of multinationals to use legal and accounting techniques to lower tax bills by shuffling profits and expenses out of countries such as Canada...
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