Historic G7 deal could mean bigger tax take for Gulf economies
Published 08 Jun,2021 via Arab News - Economy DUBAI - An agreement among the Group of Seven (G7) advanced countries to set a minimum global corporate tax rate of 15 percent is expected to have far reaching implications for Gulf economies as they seek to attract multinationals.
Japanese Finance Minister Taro Aso on Tuesday told reporters that countries realized they could no longer rely on the race to the bottom on corporation tax cuts to generate growth in their economies.
“Now that the course of direction has been shown, the possibility (of a tax deal) will rise at G20. It had a big impact on raising the momentum,” Aso said.
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