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<p>The Government is delighted that the G7 has come together to back the proposals
developed by the OECD to reform the international tax framework.</p><p>Reaching final
agreement on a two-pillar solution, which reallocates taxing rights and introduces
a global minimum tax, would be a major multilateral achievement that introduces stability
into the international tax landscape.</p><p>The Government recognises that there is
more to do to reach final agreement with the G20 and 139 members of the OECD Inclusive
Framework. Compromise will be necessary to reach that final agreement, including on
the level of the global minimum tax rate; a key issue which will need to take into
account the position of the wide array of views across the members of the Inclusive
Framework. With that consideration in mind a common G7 position has been agreed that
could represent a consensus position for the G20 and Inclusive Framework.</p>
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