tax havens

G20 finance ministers have agreed to a historic plan which will ensure multinational companies pay their fair share of taxes across the globe.

130 countries and jurisdictions have agreed to plans for a global minimum corporate tax rate. The agreement comes as part of an attempt to force multinational companies to pay a fairer share of tax.

The suggested rewrite of the global tax system would be “seismic” for corporations shifting profits overseas.

Following the Panama Papers leak of files from last year, earlier this month, the Paradise Papers leak once again threw light on the world elite’s hidden wealth. 3.4 million confidential documents relating to offshore investments were…