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‘Warren Buffett of crypto’ Mike Novogratz sees looming bitcoin price catalysts

Reuters

Anti-poverty groups criticise rich countries over G7 tax deal

Anti-poverty campaigners on Monday criticised a deal reached by seven wealthy countries to impose a minimum tax on multinational companies, saying it would benefit rich nations at the expense of the poor. Finance Ministers from the Group of Seven advanced economies agreed on Saturday to back the creation of a global minimum corporate tax rate of at least 15%, aiming to squeeze more money out of multinationals such as Amazon and Google and reduce their incentive to shift profits to low-tax offshore havens. Oxfam and Eurodad, a network of development agencies, said the new regime would entitle big companies’ home countries, often in the United States or Europe, to a larger share of the tax, leaving little for poor states where multinationals also operate.

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