(London) Imposing a tax on multinationals is good for Canada and its businesses, Finance Minister Chrystia Freeland said on Saturday.
Posted on Jun 5, 2021 at 10:37 a.m.
The Canadian Press
The minister reacted on Twitter to the agreement reached between the G7 countries to impose a “global” tax of at least 15% on large corporations. According to her, this is good news that “will ensure that the playing field for the global economy is level.”
She stressed that “multinational companies must pay their fair share of taxes,” adding that the G7 is putting forward a way forward to get there.
US Treasury Secretary Janet Yellen has said she hopes the deal will provide the momentum needed to end the “race to the bottom” in corporate taxation.
The meeting of G7 finance ministers is a preparatory step for the organization’s annual summit, which will take place June 11-13 in the UK.
G20 finance ministers will meet in July in Italy and are expected to discuss the measure.