Plan that would ‘change the world’: G7 nations ‘close to historic deal to tax tech giants’

Plan that would ‘change the world’: G7 nations ‘close to historic deal to tax tech giants’

The world's leading economies are on the brink of announcing a historic deal to tax the tech giants, the German finance minister has told Sky News.

Olaf Scholz said the plan to reform the taxation of tech companies and introduce a minimum level for business tax rates would "change the world", bringing in billions of pounds in tax revenue which would otherwise have been shifted to low tax countries.

The comments came as ministers from the Group of Seven (G7) industrialised economies met in London for the first such face-to-face summit since the onset of COVID-19 over a year ago.