Washington reduces the proposal to impose a 21% tax on revenues from multinational corporations that have not reached an agreement with all countries. Negotiations will continue with the G20 in Venice
The Global minimum tax On returns Multinational companies It could be from 15th%: Is the new quota proposed by the US Treasury, which will therefore accept a substantial reduction from Filed 21% at the start To 140 countries in the Organization for Economic Cooperation and Development (OECD). The idea was evident during a meeting of the Organization for Economic Cooperation and Development (OECD), on the erosion of the tax base and the transfer of profits, which testifies to the difficulty of negotiations between the two parties. Presides over the religion Janet Yellen However, he stressed that 15% is One rule And that discussions should continue to be ambitious and raise the stake“.
The Minimum global corporate tax It will be a source of financing Infrastructure plan From President Joe Biden, Which intends to increase local taxes on business revenues at the same time from 21 to 28%. A similar tax imposed by the former president on the IRES Trump card May cut dramatically from the previous 35%, with a view too Keep companies on American soil Flee to soft taxes. In addition, the Republican president ushered in the United States A new minimum tax of 10.5%, The Global Taxable Low Income Tax (GILTI), Aiming to capture the volume of business that domestic firms move into tax havens, along with Incentives to return home From the maritime capital.
Now, the Biden plan would like a further Guilty tax From 10.5% to 21%, which makes it As a basis for discussions within the Organization for Economic Cooperation and Development With regard to the global minimum tax for multinational corporations. Countries that believe they can make money by intercepting corporate revenues in lucrative markets have sprung up in their favor, such as France and Germany. Others, who have made fortunes by hosting the headquarters of big companies like big tech, focus on milder proportions, such as the 12.5% that he practices.Ireland. The British also expressed concerns that the 21% may be too high in the long term, although United kingdom Plan to increase corporate revenue tax to 25% by 2023.
On the other hand, Yellen urges the international community to stop this “ 30 years of business in Discount on corporate taxes., Arguing that this competition has eroded government revenues, especially at a time when trillions (in dollars and euros) were spent on support measures against the economic and health crisis from Covid-19, which led to the creation of record levels of debt.
According to accounts Organization for Economic Cooperation and Development, The global minimum tax should allow approx $ 100 billion annually between governments. It will be discussed again from 4-5 June among the finance ministers of the G7, while the G20 discussions will be held from 9-10 July in Venice. The agreement is expected to be concluded by October.