Global tax for corporations. Historic G20 Agreement

During the meeting in Venice, finance ministers and central bankers of the G20 countries supported the introduction of a global tax on international companies. They called for action to better prepare for the next pandemic.

It was recalled that according to OECD, the global minimum tax at the level of 15 percent. from the corporation could bring in 150 billion dollars a year. The document emphasizes the need to address the remaining issues and finalize the detailed plan.

The host of the Venetian meeting, Italian Finance Minister Daniele Franco concluded that the concluded agreement was very important and stressed that the plan foresees fine-tuning the details by October, i.e. the meeting of the G20 heads of government.

Participants also agreed on the need to establish a task force of the World Bank, the World Health Organization, the International Monetary Fund and the World Trade Organization, which would be responsible for vaccination and treatment issues in developing countries, and actions to “be better prepared” for the next pandemics.

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