G7 finance ministers have reached "a historic agreement" on global taxation
. This was declared by the English Chancellor of the Exchequer, Rishi Sunak. Agreement "on the principle of a minimum global rate of 15% for the taxation of large companies, applied country by country", wrote the British Treasury on Twitter, speaking of "a tightening on tax avoidance" that will charge "the fair share" to the Big Tech multinationals. According to the Treasury, "the largest global companies, with profit margins of at least 10%, will see 20% of all profits above this threshold reallocated and taxed in the countries where they make sales".
G7 finance ministers have made, with agreement on a global minimum rate of 15%, an "unprecedented commitment that will end the race to the bottom in corporate taxation, ensuring fairness for workers in the United States and throughout. the world, "US Treasury Secretary
Janet Yellen
said in a statement
.
"Today in London we took a big step towards an unprecedented global agreement on corporate tax reform. It was a very positive meeting that allowed us to build bridges on crucial issues."
So commissioner Paolo Gentiloni
. "The chances of a global deal have greatly increased. We now have to go the last mile to expand this consensus to G20 members and all countries involved in the OECD inclusive framework. The Commission will actively contribute to these ongoing multilateral discussions to ensure reaching an ambitious agreement in July ", he concludes.
