G-20 endorses global corporate minimum tax at Rome summit
October 31, 2021
ROME (AP) — Leaders of the world's biggest economies on Saturday endorsed a global minimum tax on corporations, a linchpin of new international tax rules aimed at blunting the edge of fiscal paradises amid skyrocketing profits of some multinational businesses.
The move by the Group of 20 summit in Rome was hailed by U.S. Treasury Secretary Janet L. Yellen as benefiting American businesses and workers.
G-20 finance ministers in July had already agreed on a 15% minimum tax. It awaited formal endorsement at the summit Saturday in Rome of the world's economic powerhouses.
Yellen predicted in...