News Summary:
On April 2, 2026, the G20 continued its focus on corporate tax policy, noting that corporate tax responsiveness varies across countries despite multilateral coordination efforts such as the OECD/G20 global minimum tax, which aims to limit profit shifting and reduce harmful tax competition. This follows discussions on April 1, 2026, addressing the benefits of improving cross-border payments, highlighting their crucial role as the backbone of financial infrastructure for international trade, according to an ECB Economic Bulletin. Earlier on the same day, the group acknowledged the fragmentation of global payment systems, driven by market, technological, regulatory, and geopolitical forces, which results in slower, costlier, and less transparent transactions, with states increasingly weaponizing payment infrastructure. Previously, on March 31, 2026, the G20 emphasized the importance of private capital mobilization (PCM) in emerging market and developing economies (EMDEs), urging finance ministers to dismantle systemic barriers to PCM under the US and UK presidencies to foster global growth. This emphasis followed a call on March 29, 2026, for the G20 to prioritize paying for results over promises to spur health and climate innovation, recognizing that markets often underinvest in these areas where social value exceeds private returns.
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