agreement on the 15% global tax – Corriere.it

by time news

After many years of discussion, we have reached a historic agreement on a more stable and equitable international taxation, reads the long document that yesterday concluded the economic G20 in Venice, under the Italian presidency. The system of minimum taxes to be paid by multinationals, valid all over the world, the main result of the summit. true, the membership of 7 countries is still missing (three in Europe: Ireland, Hungary and Estonia). But, said the Minister of Economy, Daniele Franco, the G20 countries that have given the green light to the reform represent 90% of world GDP and this places objective pressure on those who still resist because they want to continue to exploit the advantages. to be a tax haven. For this reason, Franco added, there is the conviction that in the G20 in October, which should sanction the definitive agreement with all the details, even these resistances will have been overcome.

The document therefore refers to the mechanism agreed in the OECD which provides for a mechanism based on two pillars. The first is dedicated to large multinationals, those with a turnover of more than 20 billion (a hundred in all), whose profits, if they exceed 10% of revenues, will be partially (a share between 20 and 30%) taxed in Countries where they operate. The second pillar, on the other hand, affects most multinationals, those with a turnover of at least 750 million euros, whose profits will be taxed at a minimum rate of 15%. In practice, countries that apply a lower levy (for example Ireland, 12.5%) will have to pay back the difference (2.5 points, in the example) to the countries where the multinational sells goods and services. This system should reduce the convenience of multinationals to divert profits to tax havens. The reform is expected to come into effect in 2023. But several problems remain to be overcome. French Finance Minister Bruno Le Maire said both 15% of the global minimum tax and 20% of the reallocation of profits should be increased.


The fight against pandemics, the current one, variants included, and the future ones, and the fight against pollution and climate change are the other issues on which the G20 ministers and central bankers have taken common positions. reads the press release between the World Bank, the World Health Organization, the IMF and the WTO for vaccines, therapies and diagnoses in developing countries to overcome the situation in advanced countries where the majority of the population has already received a dose vaccine and poor countries where the percentages are single-digit. On the environmental front, the G20 agrees on the use of mechanisms for fixing the price of CO2 emissions and incentives to reduce them.

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