Global Tax Deal Marks Big Advance for Cooperation, but Tougher Tasks Lie Ahead

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By Paul Hannon and Giovanni Legorano 

Finance chiefs from the Group of 20 leading economies endorsed an overhaul of the rules for taxing international companies, a landmark achievement of global cooperation after years of tensions. G-20 members have rarely been able to agree to such ambitious changes over the past decade of disputes over trade, investment and jobs, although they did work together to offset the economic impact of the Covid-19 pandemic. The tax agreement, negotiated earlier this month by 130 countries, has raised hopes that major economies can find common approaches to tackling other global problems, such as climate change and trade. 

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By Paul Hannon and Giovanni Legorano , posted on Saturday July 10, 2021
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