Daily Current Affairs / G7 Nations Agree on ‘Side-by-Side’ Global Tax Plan Benefiting U.S. and UK Firms:
Category : International Published on: July 03 2025
The G7, under Canada’s presidency, endorsed a new ‘side-by-side’ taxation framework, allowing U.S.-based companies to pay taxes only in their home country on both domestic and international profits. This reform exempts such firms from some global tax rules, aiming to streamline and stabilize cross-border corporate taxation.
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