CBS News: G-7 nations back global minimum corporate tax of at least 15%

Nations have been grappling with the question of how to deter companies from legally avoiding paying taxes by resorting to tax havens — typically small countries that entice companies with low or zero taxes, even though the firms do little actual business there.

According to an analysis by the Institute on Taxation and Economic Policy, a left-leaning nonprofit tax policy organization, at least 55 of the largest corporations paid no federal corporate income in the most recent fiscal year. Read more