G20 finance ministers are meeting in
Venice on Friday with global tax reform and the climate crisis
at the top of the agenda set under the Italian presidency of the
group.
The G20 is looking to move towards a deal on implementing an
agreement reached among all OECD members for a global minimum
corporation tax rate of 15% and on making multinationals pay tax
where they make their profits, not where they have their
headquarters.
"Attention is on taxation of the multinationals and on the
minimum global tax but there are other important fiscal issues
and one is climate change, which is at the heart of the Italian
agenda focused on people, the planet and prosperity," said
Italian Economy Minister Daniele Franco as he opened a
high-level symposium at the G20.
"Climate change is a great threat and worry for the whole world
and we must take action for the planet's health".
European Economic Affairs Commissioner Paolo Gentiloni said it
was "now or never" for the introduction of green taxation.
"It is necessary to strike a balance between ambition, and the
EU is quite ambitious, and the need for global cooperation," he
said, adding that the European Commission would present a major
package of measures to address the climate emergency next week.
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