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The Organization for Economic Co-operation and Development has announced that 136 countries have reached an agreement to impose a 15% tax on multinational corporations

File photo of OECD Secretary-General Matthias Kormann (Photo: Reuters)

The The Organization for Economic Co-operation and Development (OECD) announced Friday that an agreement has been reached on a worldwide 15% corporate tax for multinational companies starting in 2023.which received support from 136 countries.

“The historic agreement It will redistribute over $125 billion in profits to countries around the world from about 100 of the world’s largest and most profitable multinational corporations, Who will pay their fair share of taxes?Reads a statement from the Organization for Economic Co-operation and Development.

At the final stage of the negotiations, The initiative was supported by reluctant countries such as IrelandEstonia and Hungary. Only four of the 140 jurisdictions involved did not ultimately comply: Kenya, Nigeria, Pakistan and Sri Lanka.

The Secretary General of this Paris-based organization, Matthias Kormann, celebrated that “all the G20 countries”, “all the European Union” and “all the OECD countries” have given their consent to this tax rate, which will be presented at the end of the month during the G20 summit in Rome.

G7 GDP was 0.7% below its pre-crisis level by mid-year (Photo: EFE)
G7 GDP was 0.7% below its pre-crisis level by mid-year (Photo: EFE)

“that it An ambitious agreement that ensures that our international tax system adapts to the reality of today’s digital and globalized economy,” he added in Corman’s note, which he described as A “great victory” and called for “moving quickly” to implement it.

The President of the European Commission (EC), Ursula von der Leyen also welcomed the agreement reached on a new global tax framework for multinational corporations, which she described as a “major step forward” and a “fundamental equity issue”.

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I welcome today’s agreement on global tax reform. It is a historic moment. It’s a great step forward for making our global tax system fairerThis was stated by Von der Leyen in a statement distributed by the European Commission.

German politics claimed it Requiring large corporations to pay the correct amount of taxes is not just a public financial issue. And, he added, it is above all a matter of fundamental equity.” In this sense, the Chief Executive of the Community explained that, Because “we want a society where there is a set of rules for everyone, and all companies have to pay their fair share.”

European Commission President, Ursula von der Leyen (Photo: EFE)
European Commission President, Ursula von der Leyen (Photo: EFE)

The procedure is built around two pillars: a minimum corporate tax of 15% for those companies that bill more than $867 million and a standard so that the income that large companies pay goes to the countries where they get their benefits and not where they are headquartered.

This last action will be applied to Multinational companies with global sales exceeding $23,000 million And from profitability greater than 10%, Define the statement.

Arrival in January Like Joe Biden in the White House, a push for global reform, which was embodied in the first agreement in July, which states, with different fiscal strategies, finished outlining on Friday.

This agreement will be discussed at a summit G20 in Rome, on October 30-31, where next steps will be considered so that the agreement can be implemented from 2023.

(with information from the AFP and EFE)

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