G20 finance ministers sign MNC tax

Financial leaders from the Group of 20 (G20) large economies have come to an agreement on how to move forward on “more stable and fairer international tax architecture,” according to a communique issued after the meeting last month. In the G20 meeting, finance ministers and central bank governors endorsed components of a tax plan, including reallocation of profits of multinational enterprises and a global minimum tax after “many years of discussions and building on the progress made last year”. The group aims that its national leaders will approve the plan at a G20 summit in October.