Society

Aso calls G20 agreement 'change in a century'

Jul 12 (NHK) - Japan's finance minister Aso Taro has called the agreement reached by G20 finance chiefs "a historic change in a century."

Aso spoke to reporters after the meeting of G20 finance ministers and central bank governors ended in Italy on Saturday.

He said the move will bring dramatic change to the tax autonomy of a country.

Aso said he has been working on the issue since 2013 when he and Bank of Japan Governor Kuroda Haruhiko stimulated international discussions at a meeting of the Group of Seven. He added he strongly endorses the achievement.

Kuroda said there were concerns that some sovereign countries may have an unfair share of taxation on multinational companies due to an advance in the digital economy unless tax rules on such entities are revised.

He said "more than 100 countries agreed to change the 100-year-old tax rules". Kuroda called it a historically remarkable agreement.

Source: ANNnewsCH

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