G7: The first reactions to the 15% minimum corporate tax are positive

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The G7 finance ministers, of the seven most industrialized countries, agreed today to commit to imposing a minimum corporate tax of 15% ato a country that will put an end to the tax evasion of large multinational companies. The technology companies Google and Facebook were the first to react -from the first- positively, while the statements of most of the finance ministers who participated in the Summit moved in the same tone.

Google, according to Reuters, supports the work being done to update international tax rules.

“We strongly support the work being done to update international tax rules. “We hope the countries will continue to work together to ensure that a balanced and resilient agreement is finalized soon,” said Google spokesman Jose Castaένeda in an email.

For its part, the American company Facebook welcomes the progress made at the G7 Summit and realizes that this probably means that the social network will pay more taxes in different places, said the head of the company’s international affairs department, Nick Clegg.

“Facebook has long called for global tax reform and we welcome the significant progress made at the G7 Summit. Today’s agreement is an important first step towards business security and strengthening public confidence in the global tax system. “We want the process for international tax reform to succeed and we recognize that this probably means that Facebook will pay more taxes in different places as well,” Clegg wrote on Twitter.

How the British Minister of Finance reacted

“Today’s agreement by G7 finance ministers to commit to imposing a global minimum corporate tax rate of 15% per country will create a level playing field for companies around the world,” said British Finance Minister Risi Sunak, adding that the need for national digital service taxes will be set aside as soon as this global solution is implemented.

“After years of discussions, the G7 finance ministers have reached a historic agreement to reform the global tax system to fit the global digital age,” he told reporters.

Asked if he could assess how much this deal would pay for Britain in particular, Sunak replied: “This is the first step, this is the deal we reached at the G7, we still have to go to the G20 and agree with a wider group. “It is therefore difficult to say where the final agreement will end up,” Sunak said.

The attitude of France

For his part, French Finance Minister Bruno Lemerre described the agreement as a “starting point” and pledged to promote it further.
“This is a starting point and in the coming months we will fight to ensure that this minimum corporate tax is as high as possible,” he said in a video he uploaded to his Twitter account.

Germany’s reaction

German Finance Minister Olaf Solz also described the deal as “historic”, noting that companies will no longer be able to evade taxes by speculating in low-tax countries.
“The decision on international tax justice is historic. “It’s very good news for tax justice and solidarity and bad news for tax havens around the world.”

Reservations from Ireland

“Any final agreement to reform international corporate taxation should meet the needs of both small and large countries,” he said.

“It is in everyone’s interest to have a viable, ambitious and fair international tax architecture agreement,” wrote Pascal Donahue on Twitter, who has expressed reservations that an agreement risks hitting the attractive low corporate tax rate. % of the country.

“I look forward to starting discussions with the OECD. “There are 139 countries on the table and any agreement should meet the needs of small and large countries, developed and developing.”

The US reaction

US Treasury Secretary Janet Yellen said today that G7 finance ministers today made a “significant, unprecedented commitment” to adopt a global minimum corporate tax rate of 15% to end the “downward equation” of corporate taxation.

“The global minimum tax will also help the global economy prosper by leveling the playing field for businesses and encouraging countries to compete on a positive footing, such as education, research and infrastructure,” Yellen said in a statement.

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