The G7 tax changes have been a long time coming. The OECD has been pushing for global corporate tax reform for over a decade. What is interesting is that the push has taken so long, but clearly the support of the new Biden administration in the US was a game changer. One of the complaints about globalisation is that while everything seems to have been globalised, taxation remained local. The differing taxation systems have enabled multinational companies to engage in wide ranging tax and regulatory arbitrage to minimise their tax burdens. This was highly supportive for companies in the West,…

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