October 26, 2021

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The OECD announced that 136 countries had agreed to impose a 15% tax on multinational corporations

File photo of OECD General Secretary Matthias Gorman (photo: REUTERS)

The The Organization for Economic Co-operation and Development (OECD) announced this Friday that an agreement has been reached for a 15% global corporate tax on multinational corporations from 2023.It has the support of 136 countries.

“The Historical agreement One of the world’s largest and most profitable multinational corporations will redistribute more than $ 100 billion in profits to countries around the world. Who will pay their fair taxes“Reads a report from the OECD.

In the final stages of negotiations, This initiative was supported by reluctant countries at one time, such as IrelandEstonia and Hungary. Only four of the 140 jurisdictions involved did not ultimately comply with: Kenya, Nigeria, Pakistan and Sri Lanka.

The general secretary of the Paris-based organization, Matthias Gorman, “All G20 countries,” all EU countries “and” all OECD countries “have agreed to this tax rate, Which will be delivered during the G20 summit in Rome later this month.

G7 GDP was 0.7% lower than the year before the crisis (Photo: EFE)
G7 GDP was 0.7% lower than the year before the crisis (Photo: EFE)

“It simply came to our notice then The ambitious agreement confirms our international tax system In line with the realities of today’s digital and globalized economy. ” Called for “big success” and “act quickly” to implement it.

President of the European Commission (EC), Ursula van der Leyen welcomed the agreement reached on the new global tax structure for multinational corporations, describing it as a “major improvement” and a “fundamental equity issue”.

I welcome the agreement reached today on global tax reform. This is a historic moment. This is a great step towards improving our global tax systemVan der Leyen said in a statement issued by the EC.

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German politics said it all “Telling big companies to pay the right amount of taxes is not just a question of public finances. This is, above all, the question of basic equality, “he said. Because “we want a society in which everyone has rules and all companies have to do their fair share”.

Ursula van der Leyen, President of the European Commission (EC) (Photo: EFE)
Ursula van der Leyen, President of the European Commission (EC) (Photo: EFE)

The move is built around two pillars $ 867 million and a measure, so the revenue that big companies pay reaches the countries where they receive their benefits and not where they are headquartered.

This last step will be used Multinational corporations with global revenues exceeding $ 23,000 million And whose Profit is more than 10%, The report states.

Visit in January Joe Biden gave the White House an impetus for this global reform, Wrapped in the first agreement in July, these countries, with various financial strategies, outlined this Friday.

The agreement will be discussed at the summit In Gome on G20, October 30th and 31st, the next stages are to be explored so that the contract can be applied until 2023.

(With AFP and EFE information)

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