Who is this G7? Why are they able to set minimum tax rates on global corporations?

Finally there will be taxes everywhere, Less incentive to move our jobs overseas!
But does this mean we have global rules for business now? Is this something American workers can benefit from?
Will America rush to let Amazon in tax free, anyway?

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OldBrit · 61-69, M

They aren't setting a global rate. They have agreed to have a 15% minimum (6% below current usa rate). It will go to the G20 next.

Even if they agree that's only 20 countries well plus EU but....

Only need one to offer 9% and companies will look to relocate

Stopmakingsense · 56-60, F

@OldBrit or, we need only others to raise that and keep them honest or out.

OldBrit · 61-69, M

@Stopmakingsense but look at Ireland they did fabulously well by being inside the EU with a rate below 10% it attracted loads of companies to base there. For some countries offering a low rate will actually significantly raise their tax income by attracting invest in that they wouldn't normally get