G-7 Nations Sign Agreement to Make Tech Giants Pay Fair Taxes – CBS San Francisco

LONDON (CBS News) — The world’s richest countries signed a landmark agreement Saturday committing them to confronting corporate tax avoidance and making sure that giant tech companies pay their fair share, Britain’s treasury chief said.

Rishi Sunak, chancellor of the exchequer, said finance ministers from the Group of Seven leading industrialized nations signed the pact on the second and final day of meetings in London.

READ MORE: AIDS at 40: San Francisco Played Key Role in AIDS Fight

“I’m delighted to announce that G-7 finance ministers today, after years of discussions, have reached a historic agreement to reform the global tax system to make it fit for the global digital age and crucially to make sure that it’s fair, so that the right companies pay the right tax in the right places,” Sunak said in a video message posted on Twitter.

MORE NEWS: Sewage Spill During Fatal Highway 17 Crash in Los Gatos Slows Reopening

Read more at CBSNews.com>>>