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Italy: And the G-20 approved the historic agreement on the taxation of multinationals

The Group of Twenty has given the green light to the agreement for a global tax of “at least 15%” on the profits of the multinationals

Participants attend the G20 high-level tax symposium during the G20 finance ministers and central bank governors' meeting in Venice, Italy, July 9, 2021. G20 Italy/Handout via REUTERS

Finance ministers also appealed to the embarrassed countries, as the statement has so far been signed by 131 of the 139 members of the Organization for Economic Co-operation and Development’s working group, which includes advanced and emerging countries.

“We reiterate our determination to use all available policy tools for as long as necessary to address the adverse effects of Covid-19,” said the final statement by the G20 finance ministers and central bankers meeting in Venice.

The statement also said for the first time that coal pricing would be part of a policy mix to tackle climate change.

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