BRITAIN is on the cusp of striking a historic deal that will make global tech giants pay their fair share of tax.
Chancellor Rishi Sunak was in talks with fellow G7 finance ministers to thrash out an agreement last night.
It would mean the likes of Facebook, Google and Amazon paying the same rate of tax no matter where in the world they make their money.
International leaders have been discussing the tech tax dodge since 2013 — with one declaring yesterday: “We can finally see light at the end of the tunnel.”
The Americans are said to be still driving a hard bargain but insiders at the meeting say they are “cautiously optimistic as there is political will on both sides”.
Sticking points remain over the percentage of revenue taxed and where it goes.
The US wants the UK, France and Italy to end their domestic digital services taxes if a deal is struck.
Finer points of the deal were argued over during a dinner.
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The Chancellor told his counterparts that the digital giants should pay an appropriate level of tax where they operated so countries could raise revenue.
He also told them: “Opportunities to make truly lasting reforms like this do not come along very often.”
Mr Sunak also urged other countries to follow the UK’s lead on climate change in areas such as setting up more transparent climate-related financial reporting systems.