The meeting of Group of Seven finance ministers, which brings together the seven countries with the highest gross domestic product, ended Saturday with the adoption of a principle requiring a mandatory 15 percent corporate tax on each country, as proposed by the Biden administration. and the US Treasury The Wall Street Journal.
The members of the G7 are Canada, France, Germany, Italy, Japan, the United Kingdom and the United States.
Today, the Finance Ministers adopted a major and unprecedented decision
US Treasury Secretary Janet Yellen said.
Host British Finance Minister Rishi Sunak described the deal as historic. According to his statement, the agreement is based on two main pillars.
- The first pillar is the idea that multinational corporations should also tax the countries in which they actually operate, not just where they operate their headquarters.
- The second pillar of the agreement is to promote global general corporate tax reform, and the inclusion of a 15% minimum corporate tax falls into this category.
The long-term goal is that individual countries will not be able to attract international companies with lower tax rates.
Earlier, Foreign Minister Peter Szijjarto announced that Hungary would not contribute to the introduction of a global minimum tax.