German Finance Minister Christian Lindner wants to implement the planned 15% minimum tax for multinationals as early as January 2023, reports the German magazine WirtschaftsWoche, citing the country’s ministry.
According to Bloomberg, the German magazine points out that federal and state officials held initial talks this month, with the aim of drafting a bill. Germany will then wait for a corresponding European Union directive.
The tax deal, agreed by about 140 states last year, will work by creating an additional levy that governments will apply when the profits of a multinational corporation in another jurisdiction are effectively taxed at less than 15%.
The president of the Association of German Chambers of Commerce and Industry, Peter Adrian, called for the levy to be applied fairly. “Only if the new minimum tax is imposed everywhere can a level playing field be created and only then will our companies in this country not be at a disadvantage,” Adrian said.
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Source From: Capital
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