OPINION: The Government should and will fall in behind the G7’s “breakthrough” plan to reform the taxation of large multinationals.

As well as being a reasonable deal for New Zealand with no real downside, it is also the only one on the table.

To briefly recap, the G7 plan would impose a minimum level of tax on large multinationals.

It would also allow countries where very large multinationals don’t have any or much of a physical presence but still make sales, to grab a share of any super-normal profits they make.