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G20 summit in Rome: green light for global minimum tax - this particularly affects Facebook & Co.

2021-10-31T07:38:49.335Z


On the sidelines of the G20 summit, there is agreement on the subject of a global minimum tax. The corona policy also occupies the heads of state. All information in the news ticker.


On the sidelines of the G20 summit, there is agreement on the subject of a global minimum tax.

The corona policy also occupies the heads of state.

All information in the news ticker.

  • On Saturday and Sunday (October 30th and 31st) the heads of state and government of the G20 countries will meet for the summit in Rome.

  • The G20 countries agreed to a global minimum tax - Angela Merkel * praised the move, which affects large companies in particular.

  • In addition, more speed is required when vaccinating - and an end to "morally unacceptable" Corona decisions.

  • This news ticker is continuously updated

Rome - The heads of state and government of the G20 countries have agreed on a global minimum tax of 15 percent for global companies.

This particularly affects companies such as Google, Amazon, Facebook and Apple.

G20 summit: "The minimum corporate taxation is a great success"

US Treasury Secretary Janet Yellen spoke of a "historic" move on Saturday.

This will end the “harmful race to the bottom in corporate taxation”.

Angela Merkel also assessed the decision as positive: “This is a clear signal of justice.

The minimum corporate taxation is a great success. "

The reform is intended to end downward tax competition between states and to put a stop to tax avoidance by large corporations.

The 136 states that support the global tax reform account for 90 percent of global economic output.

According to the OECD, the reorganization of the international tax architecture should lead to additional tax revenues of around 150 billion dollars (around 129 billion euros) worldwide.

It primarily targets US internet giants like Google, Amazon, Facebook and Apple.

Infobox: The "Group of 20" ...

  • ... consists of the European Union * and the strongest economies on all continents.

    These are the following 19 countries: Argentina, Australia, Brazil, China *, Germany, France, Great Britain, India, Indonesia, Italy, Japan, Canada, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey and the USA.

  • ... represents almost two thirds of the world's population.

  • ... unites four fifths of global economic power and three quarters of world trade.

  • ... adopts joint declarations at its summit meetings that are not legally binding, but still send a strong signal politically.

    One is also planned for this weekend.

G20 summit: More vaccination speed - and an end to "morally unacceptable" corona decisions

In addition, a faster pace of vaccination was called for in Rome. It should also think globally and look to poorer countries, it said on Saturday. The world's strongest economies would have to set an example by supporting poorer countries with corona vaccinations, said the host Italian Prime Minister Mario Draghi. More justice is needed in terms of vaccinations. Draghi criticized it as "morally unacceptable" that just three percent of people in the poorest countries were vaccinated against the virus. Merkel agreed to support Germany.

"Whether it's fighting pandemics, climate protection, a fair global tax system - there is no option to achieve all of this alone," said Draghi.

In the past few years, “protectionism, unilateralism and nationalism” had a negative impact on cooperation in the G20 - now it is time for a return to multilateralism.

The world is close to the World Health Organization (WHO) target of a global vaccination rate of 40 percent, said Draghi.

Now the world must "do everything to increase the global vaccination quota to 70 percent by mid-2022".

On the sidelines of the G20 summit, Angela Merkel provided symbolic power - and made Olaf Scholz international chancellor *.

(AFP) * Merkur.de is an offer from IPPEN.MEDIA

Source: merkur

All news articles on 2021-10-31

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