A Pact to Tax the World

A “historic” agreement by the G7 is a big step toward global tax coordination.

By Andrew Ross Sorkin, Jason Karaian, Sarah Kessler, Michael J. de la Merced, Lauren Hirsch and Ephrat Livni

End of the beginning on a global tax deal

The Group of 7 finance chiefs sealed what they called a “historic global tax agreement” at a summit meeting in Britain this weekend. It was a diplomatic victory in particular for Treasury Secretary Janet Yellen, who is leading the Biden administration’s push to collect trillions more in taxes from corporations and wealthy Americans to pay for its expansive spending proposals.

Source: Read Full Article