The OECD-led deals seek to make multinational corporations pay their fair share of taxes around the world. And not just where they advertise that they have their physical headquarters, but anywhere they do a lot of business.
the Organization for Economic Co-operation and Development He audited his accounts on the group to be acquired with the two international agreements on a A minimum rate of 15% corporate tax and the obligation of multinational companies to pay in the countries in which they operate.
The minimum rate of 15% will translate to approx 220.000 million dollars annually The Organization for Economic Co-operation and Development (OECD) announced on Wednesday that worldwide, which equates to 9% of annual income from corporate tax, a figure clearly higher than the 150,000 million initially calculated.
In terms of attributing new tax rights to countries in which multinational corporations do business, even if they do not have their headquarters there, it will affect about $200,000 million in profits, not $125,000 million, which is the calculation then made. Reaching those agreements in July 2021.
This means a The different distribution among countries of the taxes that companies have to pay for these benefitsbut it will also generate additional income for the public treasury between $13,000 and $36,000 million globally.
The Organization for Economic Co-operation and Development confirmed that the application is widespread for this device It will contribute to the stability of the international tax systemto improve legal certainty in tax matters and avoid double-sided unilateral taxation of digital services and commercial and tax disputes” that may arise.
Its technicians estimate that this kind of unilateral measure, which would be implemented without an international agreement for a more equitable distribution of taxes on profits, could lead to the amputation of GDP by 1% annually.
Agreement signed by 135 countries
That “first pillar” of the July 2021 agreements, Signed by more than 135 countries and jurisdictions around the world, it accounts for more than 90% of global gross domestic product (GDP) It provides for the obligation of large companies, particularly in the digital sector, to pay taxes wherever they are active, not just in the places where they declare their physical headquarters, which are frequently chosen to avoid taxes.
Regarding the minimum corporate tax rate of 15%, it will affect companies with a turnover of at least $750 million that are incorporated in more than one country.
The Organization for Economic Co-operation and Development, which led the negotiations that led to the agreements two and a half years ago, has insisted that the reforms “will ensure a fairer distribution of tax rights among the jurisdictions of the largest and most profitable multinational corporations, Including digital.
The profits of the “first pillar” will be widely distributed among all countries, rich and poor, except for the so-called “investment centres”, which in many cases act as tax havens Since it attracts many companies to set up its headquarters for little or no fees, it is clear that they will lose out, according to its new analysis.
specific, low- and middle-income countries benefit the most, Because they will get new tax rights without the ones they are currently affected by.
This new assessment comes weeks after the European Union was able to open negotiations among its members in December to implement a “second pillar” around a minimum corporate tax rate.
The same “second pillar” has recently been included in the budgets of other countries such as the United Kingdom and Canada, and has been voted on in South Korea.
They have also announced their intention to copy it into their tax regulations in South Africa, Hong Kong, China, Singapore and Switzerland, among others.
In addition, Australia, Jersey, Malaysia or New Zealand are launching public consultations for their inclusion.
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