Rome, October 30 (BNA) Leaders of the world’s 20 largest economies (Group of Twenty) will ratify an agreement with the Organization for Economic Cooperation and Development on a global minimum corporate tax of 15%, according to the draft results of the two-day G20 summit, Saturday. To be effective in 2023.
“We call on the comprehensive OECD/G20 Framework on Base Erosion and Profit Shifting to rapidly develop models and multilateral tools as agreed in the Detailed Implementation Plan, with a view to ensuring that new rules enter into force at the global level in 2023 seen by Reuters.
Reuters reported that the conclusions will be formally adopted on Sunday.
In October, 136 countries reached an agreement on minimum taxes for global companies, including Internet giants such as Google (GOOGL.O), Amazon (AMZN.O), Facebook (FB.O) or Microsoft (MSFT.O). Or Apple (AAPL.O) to make it more difficult for them to avoid taxes by setting up offices in low-tax jurisdictions.
“This is more than just a tax deal, it’s a reshaping of the rules of the global economy,” a senior US official told reporters.
NS