The finance ministers of the United States, the United Kingdom and other industrialized nations reached a historic agreement over the weekend to implement a Multinational corporate tax framework Like Google, Apple and Amazon.
G20 nations, including Mexico, will discuss the G7 agreement in Venice next month, which was also proposed as a measure to reduce incentives for countries considered tax havens.
Gabriel Yorio explained that there is a world of about 100 companies that can be taxed with corporate tax, and that it is likely, if the operational framework is put in place, that it will be included in the national budget for 2022, which should be presented to Congress in the coming months.
He explained, “We will assess whether we can obtain a prior definition of how this tax will work operationally (…) and if we have the time, we will include it in the 2022 economic package.”
The G7 agreement on a minimum corporate tax of at least 15% globally paves the way for the next step, an online meeting from June 30 to July 1 of 139 countries negotiating future tax rules. Development (OECD) in Paris.
The states’ goal is to reach consensus on the details at the meeting, where a lot of technical work has been done. Any agreement reached at that meeting will be submitted to the G20 finance ministers for approval during a meeting in Venice on July 9-10.
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