last week G7 Finance Ministers announced an historic accord to set a minimum global corporate tax rate intended to enact a minimum floor level on the taxes paid by corporations worldwide and help to prevent multinational firms seeking lower tax obligations from simply moving elsewhere; specifically agreeing to the principle of a global minimum corporation tax on large firms of at least 15% operated on a country-by-country basis - the agreement enables countries to tax 20 percent of the profits of “the largest and most profitable multinational enterprises” that have profit margins of at least 10 percent.
clearly bumpkin O'Foole failed to "read the room"... also showing a related passage from his letter as sent to PM Trudeau
during this weeks meeting, G7 leaders will formally accept this agreement reached by their respective Finance Ministers. Apparently action figures are now available in the gift shop!
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