G7 agrees tech giants are paying taxes – Comment

On Saturday, June 5, the seven richest countries in the world signed a historic agreement obligating them to confront Corporate tax evasion And make sure the tech giants pay their fair share of taxes, the US Treasury Secretary said. United kingdom.

minister hacienda British, Rishi SunakHe added that the ministers Financial affairs of the Group of Seven industrialized nations (G7) signed the agreement on the second and last day of meetings in London.

I am pleased to announce that the ministers G7 Finance We reached a historic agreement today, after years of discussions, to reform the global tax system to fit the global digital age and, most importantly, to ensure that it is fair, so that the right companies pay taxes in the right place.” sonak In a video posted on Twitter.

Ministers United Kingdom, France, Italy, Canada, Japan, Germany and the United States They agreed in principle to a global minimum tax rate of 15% for multinational companies in every country in which they do business.

secretary US Treasury, Janet Yellen, who attended the London meetings, said the deal “provides a huge boost” to reach a global rate of 15% that would “end the race to the bottom in corporate taxation and ensure fairness for the middle class and workers, both in the United State As in the whole world.”

Ministers meeting finance Came before the annual summit of leaders G7 Scheduled from 11 to 13 June in Carbis Bay, in the English county Cornwall.

United kingdom He organizes both meetings as he holds the rotating presidency of the group.

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The G7 It has also faced pressure to provide vaccines to low-income countries facing outbreaks of HIV infection. COVID-19 and to finance projects to combat climate change.

International discussions on the tax issue gained momentum after President United States, Joe Biden, would support the idea of ​​a minimum global tax rate of 15% on corporate profits.

The proposal also found support among other major economies, such as France and Germany.

Countries have been grappling with the question of how to prevent corporations from legally evading taxes by resorting to tax havens—typically small countries that attract firms with low taxes or no taxes at all, even though those firms do little business. The real is there.

They have also been trying to solve the problem of taxing Internet companies that do business in countries that do not have a physical presence and therefore pay little or no tax.

ratification G7 It could help build momentum towards an agreement in broader talks among the more than 140 countries that will take place Paris, as well as during a meeting of finance ministers in G20 in Venice in July.

With information from Excelsior

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