Rishi Sunak, the chancellor, struck a deal to tackle tax abuses by multinationals and technology groups with other G7 finance ministers in London on SaturdayBritish overseas territories could be among the biggest losers from the proposed crackdown intended to make it harder for multinationals to sidestep tax on their profits. Some UK-linked tax havens, from the British Virgin Islands to Jersey, could lose revenues or the benefit of playing host to the myriad accounting, law and finance firms that base themselves there — or even both. SponsoredThe weekend deal on tax struck by G7 finance ministers was good news for the world, but bad news for territories through which multinationals book their profits, according to George Dibb, a researcher at the Institute for Public Policy Research. British overseas territories could be vulnerable. By one measure, the three biggest tax havens, according to Tax Justice Network, a campaigning group, are

Source: The Times June 07, 2021 23:01 UTC