The G20 countries agree to close tax breaks for technical companies

A final report on the plans will be available by 2020, according to the draft.

The challenge, which you may think, would be to reach agreement from a large group includes countries such as China, India and South Africa in addition to G8 supporters such as the United States, the United Kingdom and Russia. In particular, the United States has protested against British and French efforts to increase technology taxes and claims that they unfairly exclude US companies. Meanwhile, others have different attitudes to the minimum tax rates. A final agreement risks being vague or just putting mild tax claims.

Nevertheless, a common set of tax guidelines may cause significantly larger payments from companies to pay relatively little in taxes. They will probably oppose the measures they have in the past, but they cannot earn much sympathy. Many countries are concerned that technology companies benefit from their citizens without contributing to local economies, and they are probably not satisfied until there is at least some higher tax rate.