G20 to call for global tax deal to be finalised by October

(Reuters) – VENICE, July 9 (Reuters) – According to the current version of their statement after a meeting in Venice, G20 finance ministers are pushing for unresolved difficulties in a proposed worldwide corporation tax overhaul to be smoothed out by October, and are asking holdouts to join the deal. The ministers also approved a recent deal among 131 countries on taxing corporations’ profits and setting a worldwide minimum corporate tax rate of at least 15%, according to the statement, which two sources said was anticipated to be released without modifications. “By our next meeting in October, we call on (countries participating in the global discussions) to quickly address the outstanding concerns and finalize the design components within the agreed framework, as well as a detailed strategy for the implementation of the two pillars,” the statement stated. “All members (engaged in the debate) who have not yet joined the worldwide accord are invited to do so.” Francesco Guarascio contributed reporting, Leigh Thomas wrote the story, and Kevin Liffey edited it. The Thomson Reuters Trust Principles are our standards./nRead More