Society

G7 finance chiefs agree on global tax reforms

Jun 06 (NHK) - Finance ministers of the Group of Seven countries have agreed to commit to a global minimum corporate tax of at least 15 percent.

The G7 finance ministers gathered in London on Friday and Saturday.

A statement issued after the meeting says they have agreed to the principle of a global minimum rate that ensures multinational companies pay tax of at least 15 percent in each country where they operate.

Securing tax revenues from multinationals is hoped to help the nations recover from economic fallout caused by the coronavirus pandemic.

The ministers also agreed that part of any profit above a certain margin will be reallocated and then subjected to tax in the countries where they operate.

The rule would apply to the world's 100 largest and most profitable companies, many of which are US firms.

Do Bears Prefer Acorns or Berries?

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Copper Thieves Target Japanese Shrines

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Flames broke out on the morning of May 20th on Miyajima Island in Hiroshima Prefecture, home to one of Japan's World Heritage sites, destroying Reikado Hall near the summit of Mount Misen.

From Bento Boxes to Garbage Bags, Rising Costs Hitting Daily Life Across Japan

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A 25-year-old woman arrested as a suspected ringleader in a robbery-murder case in Tochigi Prefecture once posted cheerful dance videos on social media and was remembered by those who knew her as an energetic and outgoing young woman.

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