G-7 nations sign key pact to make tech giants pay fair taxes

PTI, Jun 5, 2021, 5:28 PM IST

AFP photo

London: Britain’s treasury chief said the world’s richest countries have signed a landmark global agreement to confront tax avoidance and make sure giant tech companies pay their fair share.

Rishi Sunak said finance ministers from the Group of Seven leading industrialised nations signed the agreement on the second and final day of meetings in London.

“I’m delighted to say that G-7 finance ministers today, after years of discussions, have reached a historic agreement to reform the global tax system to make it fit for the global digital age and crucially to make sure that it’s fair so that the right companies pay the right tax in the right places,” Sunak said in a video message posted on Twitter.