International taxes

The Group of Seven meeting of finance officials in London next week must strike an agreement to corral the rest of the world into changing how much tax multinationals pay and where, French minister Bruno Le Maire said Thursday.

Finance ministers are due to begin meeting this week to home in on an accord that might feature both a minimum rate and encompass digital giants.

A U.S. proposal for a global minimum corporate tax of at least 15% met with an enthusiastic reception in Europe, bringing the world closer to a deal on sweeping changes to how much multinationals pay, and to which governments.

Treasury Secretary Janet Yellen’s team has proposed a 15% global minimum corporate tax in international negotiations aimed at ending competition to lure companies through cheap rates, which then end up eroding government revenues.

Technology hardware, health care and pharmaceutical companies would be most impacted by U.S. proposals to rewrite international tax rules, according to a new analysis.

A proposal to create a more coherent tax regime for the bloc would require unanimity among its 27 member states.

European regulators failed to show that the U.S. online retailer was given special treatment by Luxembourg’s tax authority in violation of state-aid rules.

Congressional Democrats have reintroduced legislation in the House and Senate to shed more light on the use of corporate tax havens and incentives for outsourcing jobs abroad.

Any changes to inheritance tax would feed into the broader upheaval that is coming to taxation in the world’s major economies.

The Big Four firm has bought a large London-based firm that provides U.K. and U.S. personal tax services.