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The Big Fake - Why The G7 "Historic" Tax Agreement Is Nothing But Hoax. G-7 nations reach historic deal on global tax reform. Under the agreement, G-7 nations will back a global minimum corporate tax of at least 15%, U.K. Finance Minister Rishi Sunak announced in a series of tweets. The reforms will affect the largest companies in the world with profit margins of at least 10%. U.S. Treasury Secretary Janet Yellen, who is in London for the face-to-face meeting, hailed the move as significant and unprecedented.