<span style="color: #222222;">G7 Finance Ministers meeting in France today agreed a plan for taxing digital companies such as Facebook and Google that will set a minimum level of taxation for them. </span><br />'' <br />'' <span style="color: #222222;">A statement from France said that Ministers fully supported a two-pillar solution to be adopted by 2020. </span><br />'' <br />'' <span style="color: #222222;">France, which holds the rotating chairmanship of the group of world's most developed countries, said, new rules should be developed to address new business models allowing companies to do business in a territory without any physical presence. </span><br />'' <br />'' <span style="color: #222222;">The statement said, Ministers agreed that a minimum level of effective taxation would contribute to ensuring that companies pay their fair share of tax. </span><br />'' <span style="color: #222222;"><br />'' It added the G7 looks forward to further progress in the context of the G20 and a global agreement on the outlines of the architecture by January 2020. </span><br />'' <br />'' <span style="color: #222222;">The French Parliament earlier this month passed a new law that will tax digital giants on revenue accrued inside the country, even if their European headquarters are elsewhere, in a move that will affect huge US groups Google, Apple, Facebook and Amazon.</span><br />'' <span style="color: #222222;"><br />'' The move infuriated President Donald Trump and the US announced an unprecedented probe against France which could trigger the imposition of tariffs.</span><br />'' <br />''