French President Emmanuel Macron on Saturday praised the “historic” agreement reached by 136 countries to set a minimum tax rate for multinational corporations.
The OECD Brokerage Deal, which sets the global tax rate at 15%, aims to prevent international corporations from reducing tax bills by registering in low-rate countries.
International pressure to impose a minimum international tax on large corporations came close to reality on Friday as one of the last holdouts, Hungary, agreed to join a reform that now counts in 136 countries.
Hungary’s announcement comes a day after another major rival, Ireland – whose low tax rates have attracted the likes of Apple and Google.
Estonia also joined the reforms on Thursday.
Now 136 countries account for 90% of the world’s GDP.
Under the agreement, they will be able to generate about 150 150 billion to اضاف 175 billion in additional revenue from 2023.
“For four years, we have been working for a fair tax on multinational and digital companies,” Macron said Saturday.
The tax agreement reached in the OECD is historic. Every multinational company has to pay at least 15% tax. This is a big step towards tax justice.
Some NGOs and economists see the tax move as insufficiently ambitious, arguing that it will create inequality between rich and developing countries.
According to Oxfam, the poorest countries will receive less than 3% of additional tax collections.
reb / pvh / dd