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The G7 Finances commits to a global corporate tax rate "of at least 15%"

2021-06-05T23:01:55.015Z


"We have reached an agreement on the international taxation of the 21st century", greeted Bruno Le Maire at the end of the meeting.


White smoke.

Meeting in London since yesterday, the G7 finance ministers announced that they had reached an agreement this Saturday on a tax reform targeting multinationals and the establishment of a global minimum tax on profits.

Objective: to continue the work started within the framework of the OECD on this file blocked by the previous American administration, and to fight against the tax evasion of large companies, foremost among which are the Gafa.

Read also: Final negotiations at the G7 on the global minimum tax on profits

The members of the G7 notably agreed on the principle of a “

world minimum tax on companies

” for large companies, at the rate set at “

at least 15%

”. A way to establish "a

more level playing field for British companies

", according to the British Chancellor of the Exchequer.

"

We have reached an agreement on the international taxation of the 21st century

", greeted Bruno Le Maire in a video posted on Twitter. "

France can be proud

" of this step, which should allow in particular a "

fair taxation of the digital giants

" and a "

minimum taxation of corporation tax

(sic)

, to avoid tax avoidance and optimization who rightly revolt our compatriots

”. The minimum corporate tax rate is set "

at a minimum of 15%,

" said Bruno Le Maire, who intends to "

fight

" to increase it as much as possible.

At the same time, the taxation weighing on the largest groups must also be reviewed.

The largest global companies with profit margins of 10% or more will be targeted - with 20% of any profit above the 10% margin reallocated, and then subject to tax, in countries where they make profits. sales,

”said Rishi Sunak.

New meeting in July

Discussions seemed well underway for a few hours: "

I call on all G7 countries to support a comprehensive agreement on digital taxation and minimum taxation at the meeting in London,

" pleaded Bruno Le Maire on Friday.

The boss of Bercy saw in this text a "

historic advance

".

The discussions are “

productive

”, commented in the middle of the day the British Chancellor of the Exchequer, Rishi Sunak.

Still, this engaging stage does not mean that this subject is coming to an end.

The members of the G20 will meet next July in Venice to continue the work started.

Behind, the 138 OECD countries will have to support the text, in principle by the end of the year.

More information to come.

Source: lefigaro

All news articles on 2021-06-05

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