G7 finance ministers are one step away from a landmark agreement to overhaul tax rules for multinational corporations, aiming to ensure tech giants like Google, Amazon, and Facebook pay their 'fair share' globally. 🇫🇷🇩🇪 France and Germany announced the breakthrough after intense talks in London—the group's first in-person meeting since the pandemic began.
U.S. Treasury Secretary Janet Yellen's proposal for a 15% minimum global tax rate is central to the deal. While lower than many G7 countries' current rates, it faces pushback from low-tax hubs like Ireland (12.5%) and tech firms wary of tighter regulations. 💼 \"We're just one millimeter from a historic agreement,\" said French Finance Minister Bruno Le Maire.
UK Chancellor Rishi Sunak emphasized the need to modernize tax systems designed in the '1920s' to address today's borderless digital economy. 🌐 The plan could reshape how companies like Netflix or TikTok are taxed based on user activity rather than physical headquarters.
But hurdles remain: consensus at the G20 meeting in June is critical, and resistance from corporations and certain governments looms. Will this be the start of global tax justice—or a new battlefront? 🔍
