Good news for British taxpayers

Chancellor Rishi Sunak has some good news and some bad news. The bad news is for tax havens because G7 finance ministers have agreed to 15% global minimum corporation tax to make tech giants pay their fair share in a plan that will now go to G20 nations next month. The Mail reported that meanwhile, Germany's Olaf Scholz said the deal will 'change the world' and the newly-agreed deal is a universal approach to taxing global companies. Multi-nationals now forced to pay levy on sales in the country in which they earned. Agreement on 15% baseline is likely to cause tensions with Dublin, with Ireland so far resistant to raising its corporation tax rate above 12.5%.