G7 leaders will endorse proposed global minimum corporate tax, White House says

G7 leaders will endorse proposed global minimum corporate tax, White House says

G7 leaders meeting in Britain will endorse US President Joe Biden's proposal for global minimum tax of at least 15 per cent on corporations, White House national security adviser Jake Sullivan said on Twitter on Friday.

The US Treasury in May proposed a global minimum corporate tax of at least 15 per cent to try to end a downward spiral of corporate tax rates.

"America is rallying the world to make big multinational corporations pay their fair share so we can invest in our middle class at home," Mr Sullivan tweeted.