06/05/2021 9:59 AM
Clarín.com
Economy
Updated 06/05/2021 9:59 AM
The finance ministers of the G7, the richest group of countries in the world.
they reached
"a historic agreement"
to apply
a global tax rate
, British Finance Minister Rishi Sunak announced on Saturday.
The officials reached an agreement "on the principle of a
global minimum rate of 15% for the taxation of large companies
, to be applied country by country," said the British Treasury with a message on Twitter and spoke of
"a tightening of the tax pressure "
that will make Big Tech multinationals pay" their fair share. "
The G7 groups Canada, the United States, Japan, France, Germany, Italy, and the United Kingdom.
Global companies such as Amazon, Google or Facebook will be
the most affected
, since
now they can legally tax in a country with advantageous tax conditions
(for example Ireland)
the business they generate in other countries
.
With this change, rich countries seek to avoid a "race to the bottom" in fiscal policies.
In addition, this rule intends
that companies pay in the countries where they sell
their products and services and
not where they declare their profits.
"
Tax dumping
cannot be an option in Europe or in any country in the world. This practice would only lead to an even greater drop in corporate tax collection,
more inequality and the inability to finance basic public services,
" said a text with the signature of the Italian Daniele Franco, the Spanish Nadia Calviño, the French Bruno Le Maire and the German Olaf Scholz.
UK Finance Minister Rishi Sunak.
Photo DPA
The initiative is "to adjust to the global digital age, but above all to
ensure that the right companies pay the right taxes
in the right places and that is a huge prize for British taxpayers," Sunak said.
The Secretary of the Treasury of the United States noted that "this global minimum rate
ends the race to the bottom of corporate tax
and guarantees justice for the middle class and workers in the United States and around the world."
The ministers thus prepared the final decision to be taken by the G-7 heads of state and government at the summit to be held
on June 11
in the British coastal region of Cornwall.
In this way, despite the fact that the G7 does not have a formal role in the process of discussing the new international taxation, a pact within this group would be
a powerful impulse to reach an agreement
in the formal negotiations that are taking place. in this regard in the G20 and in the OECD.
In this sense, the United States has lowered its aspirations for a minimum corporate tax at the global level,
reducing them from 21% to an effective rate of 15%
in order to broaden the consensus in this regard.
Janet Yellen, the Secretary of the Treasury of the United States, and Olaf Scholz, Minister of Finance of Germany, pose in the photos with social distancing of the meeting.
AP Photo
The
enormous public spending
with which countries have had to respond to the onslaught of the pandemic accelerated the debates that were held back for years on a global agreement.
In an interview with the BBC in recent hours, German Minister Schol even evoked an agreement aimed at "changing the world."
Especially if later it is also adopted in the largest headquarters of the G20 under the Italian presidency,
to which China or Russia, among others, also belong.
"If we share a minimum corporate tax, we will help stop the downward tax race we see today and ensure that our countries can financially support the necessary commitments, especially after all the money spent to address the Covid emergency, and defend the health of people and the economy, "said Angela Merkel's cabinet member.
With information from ANSA, DPA and EFE
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