CBI responds to G7 global tax agreement

Rain Newton-Smith, CBI Chief Economist, said:

“Finding agreement on international tax at the G7 is no mean feat and will light the touchpaper for the wider multilateral process at the OECD. Consensus on corporation tax means that a real sense of momentum can now build ahead of the G20 later in the year, helping to pave the way forward for an international tax system that is simpler, more sustainable and easier to comply with.

“Businesses have worked hard with the OECD in recent years to move the process forward and will continue to do so to achieve a global tax system fit for the 21st century.”