Global Tax Regime - G7 Summit 2021

Chandni Ansari06 Feb, 2025Finance

What has the G7 agreed? OECD has been coordinating tax negotiations among 140 countries for years on rules for taxing cross-border digital services and curbing tax base erosion (including exploitation of transfer price regime), including a global corporate minimum tax. The talks on a global corporate minimum are technically simpler and less contentious. If a broad consensus is reached, it will be extremely hard for any low-tax country to try and block an accord. There are two main rules to the agreed reforms: