US Treasury Secretary Janet Yellen at the G7 Finance Ministers’ Meeting in London on June 5. While the US has, in the past, been opposed to global tax harmonisation, the Biden administration has been pushing for it. Photo: AFP
Opinion
Opinion
How the G7 put tax havens on notice, rewriting the rules of hyper-globalisation
- The deal for a global minimum corporate tax rate sets a low threshold to assuage developing countries’ concerns while the global apportionment of profits will enable high-tax jurisdictions to recoup some of their lost revenue
US Treasury Secretary Janet Yellen at the G7 Finance Ministers’ Meeting in London on June 5. While the US has, in the past, been opposed to global tax harmonisation, the Biden administration has been pushing for it. Photo: AFP
