Financial leaders from the Group of 20 large economies said they have come to an agreement on how to move forward on a “more stable and fairer international tax architecture,” according to a communique out of the meeting Saturday.
The G-20 is a forum for the governments and central bank governors from 20 major economies. In a meeting of the group’s finance ministers and central bank governors, leaders endorsed components of a tax plan, including the reallocation of profits of multinational enterprises and a global minimum tax after “many years of discussions and building on the progress made last year,” they wrote.
The group will aim for national leaders to approve the plan at a G-20 summit in October.
Reference: CNBC
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