United State Treasury is optimistic G7 will endorse a global minimum tax proposal.
Gatekeepers News reports that U.S official said that the Treasury expects the meetings of the Group of Seven finance ministers on Friday and Saturday in London to provide momentum for advancing global corporate tax negotiations toward a broader G20 finance meeting in July in Italy.
The meeting will be the first face-to-face meetings for the group since the COVID-19 pandemic turned meetings virtual in 2020.
The official said a full endorsement is expected at the culmination of the G7 meetings with the leaders’ summit.
Gatekeepers News had in May reported that the U.S Treasury proposed a global minimum corporate tax of at least 15%.
The 15% is against the 21% proposed by Janet Yellen, U.S. Treasury Secretary, in April, as part of President Joe Biden’s infrastructure spending proposal.
