Canada’s finance minister has defended a G7 tax deal that granted special treatment to the US, following a backlash from China and some EU countries against the compromise.
François-Philippe Champagne said the arrangement, brokered during his country’s presidency of the G7, had accommodated US requirements but remained “true to the intent” of the OECD’s regime ensuring a minimum corporate tax rate.
“Having the United States on board in addressing that global issue is something that I would say colleagues around the table wanted to achieve — and we found a way to achieve it,” Champagne said in an interview with the Financial Times.
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