G7 near tax agreement for multinational companies

G7 near tax agreement for multinational companies — — -Brussels (Brussels Morning) The G7 is close to reaching agreement on a model for the taxation of multinational companies, which would set the ground for a global agreement later this year, according to Monday’s Financial Times.

G7 officials have made progress in recent days and a deal could be clinched as early as Friday, limiting the ability of multinationals to report profits in low-tax havens and forcing US tech giants to pay more taxes in countries where they generate revenues.