Article preview: Chancellor Rishi Sunak is reportedly trying to negotiate an exemption for UK financial services ahead of a new global corporate tax rate. The carve-out negotiations follow an agreement between G7 countries over the weekend. If secured, such an exemption would be a massive boost to the City of London. However, such a move is said to be facing resistance from the United States.
Global tax deal agreed, but should financial services be exempt?
This 397-word blog post looks at attempts by UK and European finance ministers to secure an exemption for financial services when the new global minimum corporate tax is introduced. Written on 9th June 2021.
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