US share profits safe from G7 tax, but Asia vulnerable
The historic plan to tax multinationals agreed by G7 countries this week would have little impact on US sharemarket profits but poses a threat to a handful of large companies across Asia, according to analysts.
The US and Europe’s largest economies, including France and Germany, were among the group of nations to agree in principle to tax 20 per cent of profits above a 10 per cent margin and introduce a 15 per cent minimum tax for multinationals.
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