[RERUN] What is the global minimum tax?

What is the global minimum tax? At the end of last week, finance ministers from the G7 countries met in London and formally endorsed a global minimum corporate tax rate. Going forward, companies will have to pay a minimum of 15% tax on their profits. The framework is part of an effort to stop multinationals, and in particular the GAFA companies Google, Amazon, Facebook and Apple, from profit-shifting to tax havens. Tech companies are able to easily move between countries due to the nature of their business. How will the global minimum tax rule actually work? Why do we need such a tax in the first place? In under 3 minutes, we answer your questions! To listen to the last episodes, you can click here : Why are there so many spin offs in the world of cinema? How were the Stonewall riots the starting point for the LGBT struggle? How did Internet Explorer go out of fashion? A podcast written and realised by Joseph Chance. In partnership with upday UK. Learn more about your ad choices. Visit megaphone.fm/adchoices