UK Treasury Chancellor Rishi Sunak presses the release of London City from the plan of world leaders, which aims to force international corporations to pay higher taxes to the countries where they operate.
GT countries (group) seven The leading economies signed an agreement in London to force a unified, low CIT for the world's largest companies. Rishi Sunak wants financial services, including global banks with headquarters in London, to be excluded from the plan when next month's talks move to G-20. Chancellor wants to make sure that "the right companies pay the right tax in the right places".
The aim of the global G-7 tax agreement is to stop international companies from lowering tax accounts by transferring profits to tax havens and making them pay more in the countries where they operate, and adapting the system to capture trade in intangible assets such as data and information.
The reasons for the exclusion of the financial sector are set out in the so-called "first Pillar Plan" of the agreement, published last October.
According to the document, the financial services industry must have "units with adequate capitalisation" in each market jurisdiction, which means that their profits are generally taxed on each market. a