The G7 nations have taken a major step toward global tax reform by agreeing to a minimum corporate tax rate of 15% on multinational companies. CNBC's Tom Chitty is joined by Silvia Amaro to explain.

Contents of this video:
0:00 Intro
1:00 Revenue vs Tax
2:40 Why big businesses aren't paying more tax
3:05 How a global tax affects big business
3:31 Corporate profit shifting
4:01 The race to the bottom
5:02 Tax havens
5:30 Taxes vs profits
6:25 Global taxes vs Digital taxes
7:26 Opposition to the deal
8:08 What would happen if it passed?



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