G-20 live updates: Leaders formally endorse corporate global minimum tax that aims to halt decades-long decline in tax rates

3 yıl önce

President Biden and the other national leaders representing “Group of 20” economies have formally endorsed a new global minimum tax, designed to prevent big companies from shifting profits to low-tax countries. News of the accord came as the first G-20 leaders’ summit in two years got underway in Rome.

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The leaders are expected to discuss expanding vaccine access, averting the next pandemic, their commitments to cut greenhouse gas emissions and their financial contributions to support lower-income countries facing brutal consequences of climate change.The meeting taking place in EUR, a Roman neighborhood designed as a fascist showpiece by Benito Mussolini, for a World’s Fair that never happened.The summit is noteworthy for its absences. Chinese President Xi Jinping, Russian President Vladimir Putin, Mexican President Andrés Manuel López Obrador and new Japanese Prime Minister Fumio Kishida are not attending in person.On Monday, leaders will travel from Rome to Glasgow, Scotland, for the far bigger United Nations climate conference known as COP26.