All countries at the G20 meeting in Venice had backed plans for a worldwide minimum tax for companies, said the SPD candidate for chancellor on Saturday. The task now is to implement the measures as quickly as possible so that they can take effect as early as 2023. “That’s very, very little time.” But one has come a long way. “All of this is really great progress.” This will end the trend towards ever lower taxes.
131 countries recently agreed on a global tax reform under the umbrella of the industrialized nations organization OECD, which is supposed to adapt the international rules to the digital age. A minimum tax of 15 percent is planned for large companies, and emerging countries are to receive more tax revenue. Eight countries – including Ireland, Hungary and Estonia from Europe – refused to sign.