China Advocates A Practical Approach to Corporate Tax G20

China wants the G20 group of leading economies to develop a practical approach to setting a global minimum tax rate.

 

According to the Chinese Ministry of Foreign Affairs, the wishes and concerns of all parties must be taken into account.

Last weekend, the G7 countries reached an outline agreement for a minimum corporate tax rate of 15 percent. This landmark agreement could also put pressure on the G20 countries meeting next month to do the same.

China expects the concerns of all G20 countries to be addressed.

China, which is not a member of the G7 but is a member of the G20, currently has a corporate tax rate of 25 percent.

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