Heads of the world’s leading economies began the G20 summit in Rome on Saturday and endorsed a crucial agreement to establish a 15% global minimum corporate tax for the biggest multinationals. The G20 leaders spoke on the proposal during the opening session of the summit, which was also their first in-person gathering in two years. “Today, every G20 head of state endorsed a historic agreement on new international tax rules, including a global minimum tax that will end the damaging race to the bottom on corporate taxation,” US Treasury Secretary Janet Yellen said. The reform plan aims to deter big corporations from using complicated accounting to evade taxes by using low-tax havens. The proposal has been backedby nearly 140 countries and is expected to be included in t …
