G7, minimum global tax for Big Tech at 15%

June 05, 2021 2:07 pm

The English Chancellor of the Exchequer: “Historical agreement”. US Treasury Secretary Yellen: “It will ensure equity in the world”


Gb: historic agreement

According to the Treasury, “the largest global companies, with profit margins of at least 10%, will see 20% of all profits above this threshold reallocated and taxed in the countries where they make sales”. It is a “historic agreement” on global taxation, says British Chancellor of the Exchequer, Rishi Sunak.

Yellen: equity for workers around the world

An “unprecedented commitment that will put an end to the race to the bottom in corporate taxation, ensuring equity for workers in the United States and around the world,” says Treasury Secretary Janet Yellen.

Gentiloni: “Now to expand the consensus on the G20” Today in London we took a big step towards an unprecedented global agreement on corporate tax reform. It was a very positive meeting that allowed us to build bridges on crucial issues “. Thus Commissioner Paolo Gentiloni.” The chances of a global agreement have greatly increased. We now need to go the last mile to expand this consensus to G20 members and all countries involved in the OECD inclusive framework. The Commission will actively contribute to these ongoing multilateral discussions to ensure an ambitious agreement is reached in July, “he concludes.

Source

minimum global tax Big Tech

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