G7 to prevent tax evasion of multinational companies.

G7 to prevent tax evasion of multinational companies.

The G-7, an alliance of the world's top economic powers, has reached an agreement on raising more taxes from multinational companies.

According to the BBC, the finance ministers of the G-7 countries in London want to work together to curb the tendency of multinational companies to avoid taxes. They also agreed in principle to impose a minimum global corporate tax rate of 15 percent.

As a result of this decision, big multinational technology companies like Amazon and Google will come under this tax.

According to a report this week, an Irish subsidiary of Microsoft made a profit of হাজার 31.5 billion last year, but no corporation has paid taxes due to its tax registration in Bermuda.

Agreements were reached on Saturday between the United States, the United Kingdom, France, Germany, Canada, Italy, Japan, and the European Union. This will result in billions of dollars in the hands of governments that can be spent on repaying debts caused by the cowardly situation.

Rishi Sunak, chancellor of the British Revenue Department, said the move would help maintain fair competition among multinational companies.

"After several years of negotiations, the G8 finance ministers have reached this historic agreement to adapt the global tax system to the digital age," he said.

Multinational corporations usually open branch offices in countries that pay less corporate taxes and declare their dividends there. In this, they benefit by legally declaring the dividends of the business conducted in another country in another country. The G-7 hopes that the new agreement will close this issue.