(Reuters) – LONDON, June 30 (Reuters) – The Financial Times reported on Wednesday that Britain is expected to obtain an exception for financial services from a new global tax system negotiated by the Group of Seven economies to wring more money out major corporations like Google. Earlier this month, Reuters reported that British finance minister Rishi Sunak was pressing for financial sector corporations to be exempted from paying extra tax in order to safeguard the City of London’s top banks. find out more According to the Financial Times, the Organization for Economic Cooperation and Development (OECD), which is leading the revision of worldwide corporate tax regulations, has granted Britain’s request for a carve-out. The new worldwide tax laws aim to make businesses pay more tax in the nations where they do business. In a document published in 2020, the OECD stated that banks often pay local taxes on earnings earned in several jurisdictions. Britain will also do rid of its digital services tax as part of the new pact. According to the Financial Times, this will most likely happen in stages. The Treasury of the United Kingdom’s spokeswoman declined to comment. Kate Holton contributed reporting, and Giles Elgood edited the piece. The Thomson Reuters Trust Principles are our standards./nRead More