The Summit logo of the Group of 20 (G-20) at the Rome Convention Center La Nuvola in Rome, Italy, on Saturday October 30, 2021.
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The heads of state and government of the 20 largest economies in the world (G20) will agree to an OECD agreement on a global minimum corporate tax of 15%, as the draft conclusions of the two-day G20 summit on Saturday showed, so that the rules come into force 2023.
“We call on the inclusive framework of the OECD / G20 for basic erosion and profit shifting to rapidly develop the model rules and multilateral instruments agreed in the detailed implementation plan in order to ensure that the new rules come into force on a global level in 2023,” says the Reuters reviewed the draft conclusions.
The conclusions are to be formally adopted on Sunday.
In October, 136 countries agreed on a minimum tax for global corporations, including Internet giants such as Google, Amazon, Facebook, Microsoft and Apple, in order to make it more difficult for them to avoid taxes by setting up branches in low-tax countries.
“This is more than just a tax treaty, it is a reshaping of the rules of the world economy,” a senior US official told reporters.