The global minimum tax rate proposed by the Group of 7 (G7) aims to halt tax evasion and prevent countries from competing with each other by offering lower taxes. Photo: AP

The global minimum tax rate proposed by the Group of 7 (G7) aims to halt tax evasion and prevent countries from competing with each other by offering lower taxes. Photo: AP
The global minimum tax rate proposed by the Group of 7 (G7) aims to halt tax evasion and prevent countries from competing with each other by offering lower taxes. Photo: AP

Explainer |
What is the G7’s global minimum tax, and how could it affect China?

  • The global minimum tax rate aims to clamp down on tax evasion and prevent countries competing by offering lower taxes to attract multinationals
  • Beijing has not released an official position on the reform, but Hong Kong has acknowledged changes to the global tax regime might restrain the city

Knowledge |   China Economy
The global minimum tax rate proposed by the Group of 7 (G7) aims to halt tax evasion and prevent countries from competing with each other by offering lower taxes. Photo: AP

The global minimum tax rate proposed by the Group of 7 (G7) aims to halt tax evasion and prevent countries from competing with each other by offering lower taxes. Photo: AP
The global minimum tax rate proposed by the Group of 7 (G7) aims to halt tax evasion and prevent countries from competing with each other by offering lower taxes. Photo: AP
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