Britain's Chancellor of the Exchequer Rishi Sunak will be among the G7 finance ministers meeting in London. Reuters
Britain's Chancellor of the Exchequer Rishi Sunak will be among the G7 finance ministers meeting in London. Reuters
Britain's Chancellor of the Exchequer Rishi Sunak will be among the G7 finance ministers meeting in London. Reuters
Britain's Chancellor of the Exchequer Rishi Sunak will be among the G7 finance ministers meeting in London. Reuters

UK's Rishi Sunak lines up corporation tax deal at G7 finance meeting


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The UK's Chancellor wants a new deal with the US that would fairly tax major corporations such as Amazon, Google and Facebook.

Washington has proposed a global minimum corporation tax rate of 15 per cent, which is well below G7 levels, but above those in countries including Ireland.

But Britain is concerned the US plan does not go far enough.

"We need them to understand why fair taxation of tech companies is important to us," Rishi Sunak told the Mail on Sunday ahead of a two-day meeting of G7 finance ministers in London, beginning on Friday.

"There's a deal to be had, so I'm urging the US – and all of the G7 – to come to the table next week and get it done.

"Negotiations are going well ... but it has to be the right deal for Britain and that's what this week's negotiations will be about."

He said major corporations such as Facebook wanted clarity on the issue.

Mr Sunak said he wanted to "level the playing field for British high streets", with Britain looking at a separate online sales tax.

"Fundamentally, the global tax system isn't working ... large multinational companies, particularly digital companies, are able by the nature of their businesses not to pay the right tax in the right places. And that's not fair," he said.

"That's what we're fighting hard to fix in these negotiations. If everyone works hard over the next few days and weeks, I'm confident that we can find a good place."

UAE v Gibraltar

What: International friendly

When: 7pm kick off

Where: Rugby Park, Dubai Sports City

Admission: Free

Online: The match will be broadcast live on Dubai Exiles’ Facebook page

UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)

The biog

Favourite book: You Are the Placebo – Making your mind matter, by Dr Joe Dispenza

Hobby: Running and watching Welsh rugby

Travel destination: Cyprus in the summer

Life goals: To be an aspirational and passionate University educator, enjoy life, be healthy and be the best dad possible.

COMPANY PROFILE

Name: Lamsa

Founder: Badr Ward

Launched: 2014

Employees: 60

Based: Abu Dhabi

Sector: EdTech

Funding to date: $15 million

'The Batman'

Stars:Robert Pattinson

Director:Matt Reeves

Rating: 5/5

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Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants