Internationally operating companies are expected to pay more taxes soon. The members of the industrial nations organization OECD have now agreed on this.
The members of the industrialized nations organization OECD have practically all agreed on a global reform of corporate taxation.
Internationally active companies should therefore pay at least 15 percent tax regardless of their location, the Organization for Economic Cooperation and Development (OECD) announced after a meeting in Paris on Friday. The regulation should take effect from 2023. Of the 140 OECD members, only Kenya, Nigeria, Pakistan and Sri Lanka have not yet joined the agreement. The previous low-tax country Ireland, on the other hand, gave way on Friday.
The OECD expects the minimum tax alone to generate 150 billion dollars (about 130 billion euros) of additional tax revenue worldwide. Almost all OECD countries had already given their approval at working level, including well-known tax havens such as the Cayman Islands. The G20 countries had already agreed on the reform in the summer.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
