Google and Facebook: We support the work to update international tax rules


 

Google said it supports ongoing work to update international tax rules after G7 finance ministers agreed to implement a global minimum corporate tax of at least 15% and reallocate tax rights to large, profitable multinational corporations.


Google spokesman Jose Castaneda said, we strongly support the ongoing work to update international tax rules and hope that countries will continue to work together to ensure that a balanced and lasting agreement is concluded soon.


It is noteworthy that the finance ministers of the Group of Seven countries agreed to impose a global tax on companies of no less than 15%, according to a joint statement issued on Saturday after a two-day meeting in London, and the finance ministers of the Group of Seven countries pledged to impose a minimum global tax rate on companies of 15% on least, according to a joint statement published Saturday after a two-day meeting in London.


A statement by the finance ministers of the group's countries said, We pledge to reach an equitable solution on the allocation of tax rights, as countries will have the rights to tax at least 20% of the profits exceeding the 10% margin for the largest and most profitable multinational companies.


Facebook's head of global affairs Nick Clegg said the company welcomes the progress made by the Group of Seven industrialized countries, G7, on the minimum tax rate and accepts that this may mean that the social network pays more taxes, and in different places, and Clegg said on Twitter: Facebook has long called for reform of global tax rules and we welcome the important progress made at the G7. Today’s agreement is an important first step toward certainty for businesses and strengthening public confidence in the global tax system. We want the international tax reform process to succeed, and realize that this could mean that Facebook pays more taxes, and in different places.


And the Group of Seven major industrialized countries reached a historic agreement on imposing taxes on multinational companies, and the finance ministers meeting in London agreed to fight tax evasion through measures to make companies pay in the countries in which they do business, and they also agreed in principle to A global minimum corporate tax rate of 15%, to avoid countries reducing the tax to compete with each other for corporate attraction.


That agreement struck by the United States, Britain, France, Germany, Canada, Italy, and Japan would pressure other countries to follow suit, including at the G-20 meeting next month.

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