The minister referred in this way to the 15% rate agreed by the main powers of the world as a tribute to be paid by transnational companies, a percentage that Argentina believes should be between 21% and 25%.
In the same framework, the Secretary of the Treasury, Raúl Rigo, emphasized that “we seek higher tax rates for the digitization of the economy and we hope to continue working with other countries to achieve that goal.”
Rigo explained that “Argentina has requested a higher minimum effective tax rate, of at least 21%, but preferably 25%. However, most members support a tax not exceeding 15%.”
Guzmán, after ratifying that “Argentina has committed to accompany the proposal,” said that “we have expressed a series of concerns that should be addressed while the instruments are being developed.”
“In particular, we have noted that the methodology for evaluating the impact of the global solution has not been transparent. We should have access to the database that is used to evaluate the impact of the proposal. Details matter, and we will not be able to have a precise idea of how this system will work until we have a precise definition of all the details of the solution, “the minister stressed.
Argentina is among the 140 countries participating in the discussions led by the Organization for Economic Cooperation and Development (OECD), to rewrite the way in which the profits of multinationals are taxed.
The agreement would reallocate a portion of the profits of the largest multinationals to more countries, known as Pillar One, and create a global minimum tax rate, known as Pillar Two.
Negotiators expect a final agreement to be reached this Friday, after signing an interim agreement in the summer.
Argentina is a member of the Group of 20 (G-20), a forum that could sign the agreement later this month.
Guzmán remarked that “we are still concerned about the lack of proportionality between the commitments that are being requested from developing countries, such as the prohibition of unilateral measures for a universe of multinational companies that go beyond the scope included in the pillar one of the proposal, and, on the other hand, the benefits that this proposal will bring to developing countries. We do not see concomitance between the commitments and the benefits. “
Rigo, finally, remarked that “we share the need to restore the international tax system so that multinational companies pay their fair share of tax levies, in those jurisdictions where they operate, which allows those jurisdictions to raise enough revenue to finance inclusive policies. and that favor growth “.
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