G-7 nations sign key pact to make tech giants pay fair taxes

LONDON: The Group of Seven wealthy democracies agreed Saturday to support a global minimum corporate tax rate of at least 15 percent in order to deter multinational companies from avoiding taxes by stashing profits in low-rate countries.
G-7 finance ministers meeting in London also endorsed proposals to make the world’s biggest companies — including US based tech giants — pay tax in countries where they have lots of sales but no physical headquarters.