Italy's economy minister hopes for G20 deal to tax multinationals

Italy's economy minister said on Saturday he hoped a G20 finance meeting in July in Italy would find an agreement on global taxation for companies after the Group of Seven reached a landmark deal to pursue higher taxes on global businesses.

"We trust we will find an agreement also at the G20 level in order for these pillars to become a point of reference for global taxation," Daniele Franco said.

He added the new rules did not target companies in the digital sector alone, but all multinational businesses.