FT News Briefing Inflation rises but worries fade, global taxation deal
Jun 11, 2021
G7 leaders are stepping up to combat vaccine inequity with a pledge to deliver 1 billion COVID-19 doses to impoverished nations. Meanwhile, the push for a global taxation deal reveals the complex interplay of international negotiations, especially amid rising inflation. Investors are starting to feel less anxious about inflation's impact, while regulators call for stricter capital rules for cryptocurrencies. In the retail world, the iconic Selfridges department store is on the market with a staggering £4 billion price tag.
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Global Minimum Tax
- The G7 nations agreed on a global minimum corporate tax of 15%.
- This aims to prevent profit shifting to low-tax regions.
US Tax Benefit
- The US will likely benefit most from the global minimum tax deal.
- This is due to many large US multinationals shifting profits internationally.
Potential Holdouts
- Ireland, Hungary, and Bulgaria could potentially impede the global tax deal.
- Ireland's EU legislation requires unanimity, while the latter two have low tax rates.