G7 countries reach accord for ‘side-by-side’ system on global minimum tax

By John Schofield ( June 30, 2025, 5:01 PM EDT) -- Two weeks after their summit in Kananaskis, Alta., G7 countries have issued a statement endorsing an international “side-by-side” system that would exempt U.S. multinational corporations from two global minimum tax rules, helping to de-escalate growing tax tensions with the world’s largest economy....