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Giovedì 05 Agosto 2021
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Italy hails historic G7 minimum global corporate tax rate deal

07 giugno 2021 | 16.57
LETTURA: 1 minuti

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Bloomberg photo by Andrew Harrer

The landmark agreement reached at the weekend by Group of Seven (G7) advanced economies to back a minimum global corporate tax rate of at least 15 percent is "just", according to Italy's top diplomat.

"It is a just measure that finally shifts the balance in favour of our companies, above all with respect to multinationals headquartered in tax havens," foreign minister Luigi Di Maio wrote on Facebook.

The 15 percent minimum global corporate tax rate agreed by G7 finance ministers in London on Saturday will give Italy "a major" boost", Di Maio went on

"Let's defend and value our areas of excellence," the post underlined.

"Multinationals cannot grow rich at the expense of all the taxpaying businesses and citizens that toil away from morning to night."

The G7 deal will force multinational companies such as Amazon, Google and Facebook to pay more tax and could bring in hundreds of billions of dollars of extra revenue to governments left cash-strapped by the COVID-19 pandemic.

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