UK says global tax deal must tackle tech giants – Reuters

Dhwani Mehta FXStreet

The UK hopes that any global deal on a minimum corporate tax rate would seek the large tech companies to pay their fair share of tax, Reuters reports, citing a British Finance Ministry source on Thursday.

Key quotes

"Our consistent position has been that it matters where tax is paid and any agreement must ensure digital businesses pay tax in the UK that reflects their economic activities.”

"We welcome the US renewed commitment to tackling the issue and agree that minimum taxes might help to ensure businesses pay tax – as long as they are part of that package approach.”

This comes a day ahead of an online meeting of G7 finance ministers and central bankers.

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