The global tax was proposed for international giants like Google, Facebook, and others

Participating countries of the G7 conference unanimously supported the proposal.

London (UK) – All G7 countries (Canada, the US, England, France, Germany, Italy, and Japan) approved a proposal to impose a Global tax on international giant companies like Google, Facebook, and Apple. This resolution was unanimously passed in the G7 summit concluded recently. In another meeting scheduled from 11th to 13th June, all participating countries will sign the agreement. The Finance Minister of England Rishi Sunak said, “The purpose of this agreement is to achieve coherence in global taxation. These international organisations are responsible for environmental damage. Now each will have to declare the extent of damage by their organisation”.

Both #Amazon and #Facebook will fall under new proposals for a global minimum corporation tax agreed by the Group of Seven on Saturday, United States Treasury Secretary Janet Yellen said.https://t.co/WfFgoGS3jD

— The Hindu (@the_hindu) June 7, 2021