U.S. President Joe Biden’s proposals for deterring tax avoidance by multinational companies will be a major theme Friday when finance ministers from the Group of Seven wealthy democracies start talks on economic cooperation in London.
Biden’s push for a global minimum corporate tax of at least 15% has unblocked stalled global tax negotiations and raised prospects of an agreement this year, although key aspects such as the actual rate remain to be decided. An endorsement from the G-7 could help build support for a deal in ongoing talks among more than 140 countries being held in Paris.
