The Group of 7 advanced economies agreed in June on a minimum tax rate of at least 15 per cent. The broader agreement will go to the Group of 20 major economies for political endorsement at a meeting in Venice next week. Photo: AP The Group of 7 advanced economies agreed in June on a minimum tax rate of at least 15 per cent. The broader agreement will go to the Group of 20 major economies for political endorsement at a meeting in Venice next week. Photo: AP
The Group of 7 advanced economies agreed in June on a minimum tax rate of at least 15 per cent. The broader agreement will go to the Group of 20 major economies for political endorsement at a meeting in Venice next week. Photo: AP

Hong Kong backs US-led global effort to ‘combat tax evasion’, with mainland China also on board

  • Special administrative regions of Hong Kong and Macau are among the 130 countries and jurisdictions that have signed onto the plan, which will likely be formalised in the coming months
  • New rules would take effect in 2023 and could yield around US$150 billion in additional global tax revenue

Topic |   Global minimum tax
The Group of 7 advanced economies agreed in June on a minimum tax rate of at least 15 per cent. The broader agreement will go to the Group of 20 major economies for political endorsement at a meeting in Venice next week. Photo: AP The Group of 7 advanced economies agreed in June on a minimum tax rate of at least 15 per cent. The broader agreement will go to the Group of 20 major economies for political endorsement at a meeting in Venice next week. Photo: AP
The Group of 7 advanced economies agreed in June on a minimum tax rate of at least 15 per cent. The broader agreement will go to the Group of 20 major economies for political endorsement at a meeting in Venice next week. Photo: AP
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