Quote (Saucisson6000 @ Jul 1 2021 08:32pm)
Taxation of multinationals: the OECD agrees on an agreement for a minimum rate of 15%
More than 100 countries have participated in the agreement, but Ireland and Hungary have decided not to join.
"A historic day for economic diplomacy." One hundred and thirty countries reached an agreement on Thursday July 1 on a reform of the taxation of multinationals, including the establishment of a minimum tax on profits "of at least 15%", announced the Cooperation Organization and economic development (OECD). A small group of states, including Ireland and Hungary, very reluctant to the proposed agreement that was under negotiation, did not sign the declaration reached today.
The joint declaration, which is based on the agreement reached at the G7 at the beginning of June, also provides for a "more equitable" distribution of the profits between the countries where the head offices of the companies are located and those where they actually carry out their activity, even without physical presence. This component particularly targets digital giants like Google and Facebook. The participants in the negotiations have given themselves until next October to "complete the technical work" and to prepare "an effective implementation plan in 2023".
US Treasury Secretary Janet Yellen hailed "a historic day for economic diplomacy", while her German counterpart, Olaf Scholz, spoke of a "colossal step towards greater tax justice". For the French Minister of the Economy, Bruno Le Maire, this is "the most important international tax agreement concluded for a century".
~130 countries.
nice job by leeches like olaf scholz
instead of looking for competition and spending effectively we get one of biggest money grabs ever
thankfully there will still be plenty of ways to get the best deal and its only a matter of time until countries in need will do whatever to get investments
customers and workers will pay the price for this, as always
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