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G20 leaders back global tax deal

Finance ministers from the world's 20 largest economies backed a proposal on Saturday that seeks to introduce an international tax on multinational companies and sets a global minimum tax rate of 15%, Politico reports.

Why it matters: If enacted, the reform could alter who gets to tax multinational corporations and "stop multinationals from shifting profits into tax havens," Politico reports.


What they're saying: "After many years of discussions and building on the progress made last year, we have achieved a historic agreement on a more stable and fairer international tax architecture," the finance ministers from the G20 club, who met at a summit in Venice on Saturday, wrote in a statement.

  • "This is a victory for tax fairness, for social justice and for the multilateral system. But our work is not done ... I am optimistic that we will be able in that time also to reach a consensus among all European Union Member States on this crucial issue," said Paolo Gentiloni, the European commissioner for the economy, per Politico.
  • Some EU countries, such as Hungary, remain opposed to the deal.

What's next: Final approval of the deal is not expected until the G20 leaders' meeting in Rome in October, and some details still need to be worked out before then.

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Apple's plans to identify child abuse images on iPhones stir praise and protests

Apple's plan to detect images of child sexual abuse on iPhones and to shield some underage users of Messages from receiving explicit images has touched off the latest round of a perennial debate over prioritizing law enforcement or user privacy.

Why it matters: There's increasing pressure on giant tech platforms to flag illegal behavior and remove harmful content. But smartphones are also powerful tools of surveillance that are increasingly employed by authoritarian governments and invasive marketers to target users around the world.

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