Global leaders agree minimum tax rate for multinational tech companies

Members of the G7 have agreed on a deal to tackle corporate tax avoidance by multinational tech companies.

Businesses like Amazon, Facebook and Google were previously able to move their profits and be taxed on the lowest rates available.

But the world’s richest nations have now agreed on a worldwide minimum rate of at least 15 percent.

The move will likely put pressure on Ireland to increase its rate above the current 12.5 per cent.

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