The proposal for a minimal global corporate tax: G-7 in the role of a taxman

Make no mistake: this is not a proposal for a flat corporate tax, but rather for a minimum tax. And the idea is anything but new. The novelty is that it comes from G-7, on top of the proposals in favour of progressive taxation by the IMF Managing Director, Ms. Kristalina Georgieva, who was present at the London meeting. The proposal comes under the banner of “Shaping a Safe and Prosperous Future for All” and is supported by arguing that it would create a “leveled playground for all”, build “a strong, sustainable, balanced and inclusive global economic recovery” and “tackle climate change and biodiversity loss”.