The real story includes the reconciling of domestic interests with international demands
A historic agreement has been reached. For decades, multinational corporations have abused gaps in an international tax system that has barely changed since agreements made at the League of Nations in the 1920s.
After meetings in London at the weekend, the message from the G7 group of wealthy nations is clear: time is up on tax havens. In a landmark move, a global minimum rate of corporation tax has been agreed, alongside measures forcing large firms and online tech giants such as Facebook, Apple and Google to pay more tax in the markets where they make their money regardless of physical presence.
