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Demonstration for higher taxation of the super-rich in New York (November 2020)
Photo: John Nacion / STAR MAX / IPx / AP
Germany would obviously be one of the biggest beneficiaries of a global corporate tax reform.
There will be significantly more winners than losers, according to an analysis by the British consultancy Oxford Economics.
There would be an overall positive effect for the eurozone; apart from Germany, the other large states France, Italy and Spain in particular could benefit.
In 2028, the national debt in relation to economic output for Germany and France would each be around 1.4 percentage points lower than if the reform failed.
It would be one percentage point for Italy and 0.8 for Spain.
All would be above the eurozone average of 0.4 percentage points.
In contrast, four European countries with low corporate tax rates are likely to be among the losers from a global tax reform: Luxembourg, the Netherlands, Hungary and Ireland.
A group of experts set up by the EU had also calculated that Germany in Europe would benefit most from a global minimum tax for companies.
The G7 - the circle of the seven leading industrial nations - had recently agreed on a basic framework for the tax reform.
At the heart of this is a global minimum tax of 15 percent for companies.
There is also a new regulation that countries with huge consumer markets should receive a larger part of the taxes from particularly large and profitable corporations.
Many detailed questions are still open.
In the coming weeks it should become clear whether the G7 agreement, among others, also in the circle of the G20 including important emerging countries.
It could later become binding for almost 140 countries.
The analysis by Oxford Economics states that it has been discussing this for years, "but this time it looks different".
The corona pandemic has a significant negative impact on the budgetary position of the states.
fdi / Reuters
