Collected over two days in the British capital, financiers from the United Kingdom, Germany, Canada, the United States, France, Italy, Japan and the European Union have pledged to impose at least a 15% global tax on large companies and ensure multinationals. Better distribution of tax revenue, especially from digital giants
“After 4 years of fighting, a historic agreement has been reached with G7 member states on minimum taxation on companies and digital giants”, welcomed French Economy Minister Bruno Le Maire on Twitter.
“For the first time in years, G7 member states are able to set the rules for the international order of the 21st century,” the government official said in a video posted on social media after the meeting.
Mr Le Maire indicated that this is an “agreement that France can be proud of”, as “we have been fighting for 4 years in all European and international forums and within the G7 or G20 to have minimum taxation for the digital giants”. And so that there is minimum taxation on companies”.
After 4 years of fighting, France “won its case”, he said, noting that this taxation would prevent tax evasion that “rightly revolts our compatriots”.
The minister welcomed an “ambitious” agreement, noting that the 15% rate is only a starting point and that in the coming months, “we will fight for this tax rate to have the minimum tax on these companies as high as possible.” “.
The fight in the G20 and the OECD will continue, the bercy tenant said, calling for a “historic step” that has just been taken at the G7 meeting.
The global minimum tax bill, which is part of a broader tax reform led by the Organization for Economic Co-operation and Development (OECD), has been revived by the US administration of President Joe Biden.
The project, which aims to fight against tax evasion, aims to comprehensively tax large technology companies, often Americans, by residing in those countries, despite making tens or even hundreds of billions of dollars in profits. Where the corporate tax rate is very low or even zero.