WORLD - G7 Agreement on World Taxation

Arno Froese

Group of Seven countries are close to reaching agreement on the corporate taxation of multinationals, clearing the way for a global deal later in the year, the Financial Times reported.

After the United States agreed to accept a minimum rate of at least 15%, France, Germany and Italy said the new proposal was a good basis for sealing an international deal by July.

“The world is closer than ever before to a global minimum tax,” U.S. National Security Adviser Jake Sullivan said.

“Great to hear the positive reception to our proposal,” he said on Twitter. “This is what it looks like to lead the world to end the race to the bottom.”

Nearly 140 countries aim to reach broad agreement this summer to rework rules for taxing multinational groups and big technology companies, such as Alphabet Inc and Facebook Inc.

-news.trust.org, 24 May 2021

Arno's Commentary

This is another confirmation that globalism works; it’s here to stay, and will dominate planet earth in the not-too-distant future. 

Who is the G7? Wikipedia writes, “The group of seven (G7) is an intergovernmental organization consisting of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. The heads of government of the member states, as well as the representatives of the European Union, meet at the annual G7 Summit.” What is noteworthy is that China and India are not part of it, nor Australia or any African country. Yet, when this minimum rate of taxation of 15% is implemented, it will and must spread throughout the world. 

Here we are reminded of Daniel 11:36: “And the king shall do according to his will; and he shall exalt himself, and magnify himself above every god, and shall speak marvellous things against the God of gods, and shall prosper till the indignation be accomplished: for that that is determined shall be done.” This is Antichrist. The ultimate global authority will not be the G7 or a G200; it will be a person doing his will, exalting and magnifying himself—and note, “shall prosper.” That is the mark of the end times. Prosperity is not limited to the G7, but is global and will fully incorporate planet earth, albeit temporarily.

Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.

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