G20 countries will support the introduction of a global minimum tax rate for corporations, writes Reuters with reference to the draft of the general statement of representatives of the G-20, which should be done according to the results of the prepared meeting on July 9-10.
International companies, such as the American Giants Google, Facebook, Apple and Amazon, will also no longer allow to avoid payments to the budgets of countries in which they receive profits follows from the document. It states the support of the main elements of the two key areas of the plan for organizing economic cooperation and development (OECD), which suggest such measures to solve the problem of distribution of corporations.
Specifications in the draft claims are not yet contained. Next week, OECD organizes a meeting with the participation of representatives of about 140 states who have to coordinate all the details.
It is unknown and what the minimum tax rate for corporations are going to offer members G-20. Representatives of the “Big Sevenki” previously agreed that it should be at least 15 percent, but in the application “Twenty” such a figure does not appear.
At the same time on the eve of the meeting, which will be conducted by OECD, intensive discussions are continuing related to countries with low tax rates, such as Hungary and the Netherlands. When consent is reached, the details will send ministers of finance and managers of central banks of G-20 countries, which will have to approve them at a joint event on July 9-10 in Venice.
Countries “Big Seven” agreed on the reform of taxation of large corporations in early June. Similar changes may occur in Russia: to study the possibilities of increasing taxes for such international companies proposed by the President of the country Vladimir Putin.
At the same time, in Europe, the agreement “Big Seven” faced criticism from those states that a low level of corporate tax ensures the inflow of investments. Absurd plans G-7 called the Prime Minister of Hungary Victor Orban.