A Reuters article quotes Eric LeCompte on the G7 nations' discussions to create a minimum global corporate tax rate. Read an excerpt below, and click here for the full story.

UPDATE 1-G7 nations near historic deal on taxing multinationals

By David Milliken

Rich nations have struggled for years to agree on a way to raise more revenue from large multinationals such as Google, Amazon and Facebook, which often book profits in jurisdictions where they pay little or no tax.

U.S. President Joe Biden's administration has given the stalled talks fresh impetus by proposing a minimum global corporation tax rate of 15%, above the level in countries such as Ireland but below the lowest level in the G7.

"All countries face revenue loss when corporations don't pay their share in taxes," said Eric LeCompte, executive director of Jubilee USA, an alliance of organisations promoting debt relief.

"The G7 needs to support global tax reforms so we have resources for people to get beyond this pandemic," he added.

 

Read the full article here.