It's the biggest shake up of the international tax system in decades - that could see tax havens shut down - set a minimum international corporate tax rate and ensure that global businesses pay more taxes.

130 countries signed ​on to a breakthrough blueprint outline of a deal ​early this month. 

All the G20 finance ministers meeting in Venice this weekend support the deal... ​including representatives from China,​the US, and EU nations.   

What does this deal entail? CGTN's Toby Muse reports.