The G-7 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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