G7 tax agreement provides level playing field-UK's Sunak says

© Reuters. Britain’s Chancellor of the Exchequer Rishi Sunak, poses as finance ministers from across the G7 nations meet at Lancaster House in London, Britain June 5, 2021 ahead of the G7 leaders’ summit. Alberto Pezzali/Pool via REUTERS

LONDON (Reuters) – A Group of Seven agreement to commit to a global minimum corporate tax of at least 15% on a country by country basis will create a level playing field for companies around the world, British finance minister Rishi Sunak said on Saturday.

He added that the need for national digital services taxes would fall away once the global solution is in place.

“After years of discussion, G7 finance ministers have reached a historic agreement to reform the global tax system to make it fit for the global digital age,” he told reporters.

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