The great powers advance with a tax on the world’s largest companies

After what The United States agreed to a minimum rate of at least 15%, France, Germany and Italy said the new proposal was a good basis for sealing an international deal before July.

The G7 deal could be reached as early as Friday, following progress made by senior officials in recent days, the FT reported.

“The world is closer than ever to a global minimum tax,” US National Security Advisor Jake Sullivan said on May 22. “It’s great to hear the good reception of our proposal,” he commented on Twitter.

About 140 countries intend to strike a broad agreement to review the tax rules of multinationals and big tech companies, such as Alphabet Inc and Facebook Inc.