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The heads of state and government of the world’s seven leading advanced economies (G7) and 20 major economic and political powers (G20) meet annually at the invitation of the country holding the presidency that year.

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Fair taxation Global corporate tax reform is on the way

Un­der the aus­pices of the OECD, 136 coun­tries (as of 13 Oc­to­ber 2021) have reached an agree­ment on a fair al­lo­ca­tion of tax­ing rights and a glob­al min­i­mum ef­fec­tive tax at a uni­form tax rate of 15%. This is a gen­uine rev­o­lu­tion in in­ter­na­tion­al tax law. The ba­sic ap­proach was ap­proved by the fi­nance min­is­ters of the 20 lead­ing ad­vanced and emerg­ing economies – the G20 – at their meet­ing in Venice on 9–10 Ju­ly 2021. At a fur­ther meet­ing in Wash­ing­ton, D.C., on 13 Oc­to­ber 2021, min­is­ters reached agree­ment on the re­main­ing tech­ni­cal de­tails and ap­proved a roadmap for im­ple­men­ta­tion.

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G7/G20 G7 finance ministers meeting in London on 4–5 June

The lat­est meet­ing of G7 fi­nance min­is­ters and cen­tral bank gov­er­nors took place in Lon­don on 4–5 June, with a fo­cus on “Build Back Bet­ter”. This was the first in-per­son Fi­nance Track meet­ing un­der the UK’s G7 pres­i­den­cy.

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Group of 7

The Group of Sev­en (G7)/Group of Eight (G8) is an in­for­mal fo­rum of the world’s lead­ing economies. The heads of state and gov­ern­ment of these coun­tries for­mu­late joint po­si­tions on glob­al pol­i­cy is­sues when they meet for an­nu­al sum­mits.

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Group of 20

The Group of 20 com­pris­es the 19 lead­ing ad­vanced and emerg­ing economies plus the Eu­ro­pean Union. Formed in 1999, the G20 is the main fo­rum for dis­cussing the in­ter­na­tion­al reg­u­la­to­ry frame­work.

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G20 Finance Track: Documents

While the G20’s de­ci­sions are not legal­ly bind­ing, its mem­bers make vol­un­tary com­mit­ments which car­ry con­sid­er­able po­lit­i­cal weight. We have put to­geth­er an overview of the com­mu­niqués from the meet­ings of fi­nance min­is­ters and cen­tral bank gov­er­nors, as well as some key doc­u­ments and sum­mit dec­la­ra­tions is­sued since 2008. These doc­u­ments are avail­able for down­load in PDF for­mat.

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G20 Presidency 2021

Italy has held the pres­i­den­cy of the Group of 20 since 1 De­cem­ber 2020. For more in­for­ma­tion, please re­fer to the web­site main­tained by the host coun­try.

More on external page: G20 Presidency 2021

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G20 Compact with Africa

The Com­pact with Africa was ini­ti­at­ed un­der the Ger­man G20 Pres­i­den­cy to pro­mote pri­vate in­vest­ment in Africa, in­clud­ing in in­fras­truc­ture. Its pri­ma­ry ob­jec­tive is to in­crease at­trac­tive­ness of pri­vate in­vest­ment.

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