The G-7 finance ministers have struck a landmark deal that will see a global base corporate tax rate of at least 15% placed on multinational tech giants like Amazon, Apple and Microsoft.
, an associate professor of international political economy at England's University of Plymouth, told NBC News the deal was"historic" and a major shift, after decades of unrestrained tax competition.Calling it a"big win" for the Biden administration in particular, Holden said, however, that smaller countries were less likely to directly benefit from the pact.
The U.S. has proposed levying the new global minimum tax on the world's 100 largest and most profitable companies.
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