At the international level, an understanding is still being sought on the proposal of the President of the United States Joe Biden and the Secretary of the US Treasury Janet Yellen to introduce a minimum global tax on multinationals, aimed at stopping flows to tax havens. An issue that holds court especially in Europe, given the potential effects on the state coffers, and which will end up on the table of the meeting of the finance ministers of the G7 countries on 4 and 5 June in London in the coming days.
But what are the economic benefits of a possible global corporate tax for Italy and its European partners? The numbers, based on a rate of 15%, one of 21% and one of 25%, come fromEuropean tax observatory initiated by the European Commission.
How much would Italy and the EU earn with a minimum tax on multinationals?
According to the calculations, for theItaly a rate of 15% would result in a surge in tax revenues of 2.7 billion euros, which would rise to 7.6 billion with a rate of 21% ea 11 billion with a rate of 25%.
Looking instead at the entire EU twenty-seven bloc, a minimum tax rate of 15% would increase the continental revenue of 50 billion, and of 100 billion with a tax rate of 21%. If, on the other hand, a 25% tax rate were applied to the profits of multinationals, Brussels would increase current tax revenues from companies by 50% in 2021, from 340 billion under the current legislation to 510 billion. +170 billion.
Going to put the individual EU states under the lens, it emerges that a rate of 15% would be the Belgium to collect the largest increase in revenue, +10.5 billion, while in the case of the rate of 21% and 25% they would be France e Germany, respectively +16 billion e +29.1 billion.
Three scenarios for applying the minimum tax in the EU
It remains to be seen, however, how the minimum corporate tax will actually be implemented. With an eye to the EU, according to the European Tax Observatory, there are three scenarios.
A full international coordination, with each European country collecting its own fiscal deficit from corporations; a imperfect coordination, in which only the EU would introduce a minimum tax, and which would see each individual state collect the fiscal deficit of its multinationals and part of the fiscal deficit of companies located outside the EU; one unilateral scenario, where a European country would make the first move, collecting the entire fiscal deficit of its multinationals and part of the fiscal deficit of all foreign companies.