G-7 Global Taxation, Varied Capital Market Response

Global capital markets moved varied in early trading. Two main sentiments that characterize stock trading globally,

namely the agreement on the minimum tax limit for global corporations and comments by the United States Treasury Secretary Janet Yellen on the Federal Reserve's benchmark interest rate. Tech giants on Wall Street were down in the session before trading began. As announced, the Group of Seven (G-7) countries reached an agreement on the minimum tax limit for global corporations. Multinational companies must pay a minimum tax of 15 percent to the country of origin and the country where their business units operate. G-7 member countries include the US, Canada, UK, France, Germany, Italy and Japan. The US government continues its efforts to continue its economic recovery plans. Yellen told Bloomberg News that President Joe Biden must press ahead with his $4 trillion recovery plan for the country. Even if the recovery plan triggers inflation and leads to the possibility of raising the benchmark interest rate. Any price hike due to Biden's grand plan to revitalize the US economy would be temporary and higher interest rates would actually be positive.

|•SOURCE•| Image :FEG |

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