β#ForexChief #G20 #forexnews #Yellen #summit #worldnews #forexmarket β
π° Global corporate tax: details to be discussed at the summitβ
π Representatives of 130 countries, which account for over 90% of world GDP, including all G20 states, following the meeting in a virtual format. They agreed to introduce a global minimum tax rate as part of the optimization of tax rules for international companies.
β
It is the most radical reform of international taxation in over 100 years: countries cannot create low tax regimes to attract large companies.
β
Now the governments of the countries will have to pass laws that will ensure that companies headquartered in their countries will pay taxes at a minimum rate of at least 15% in each country in which they work. It will reduce opportunities for tax evasion.
β
The summit of the Ministries of Finance and the heads of the Central Banks of the G20 countries will be held on July 9-10. The principal topic is the details of implementing the introduction of the minimum corporate tax. Ireland, Hungary, Estonia have already expressed their claims, but, as always, Germany and France will decide everything.
β
Before the summit, US Secretary of the Treasury, Yellen, and the Vice President of the European Commission, Vestager, will discuss digital taxation, the result of the meeting is important for the shares of high-tech companies. No speculative reaction on main assets is expected.
β
Profits to yβall!