Facebook and Google’s surprise response to the 15% global minimum corporate tax rate

Facebook and Google’s surprise response to the 15% global minimum corporate tax rate

After the Group of the world’s leading industrialized countries (G7) agreed to a global minimum corporate tax rate of at least 15%, Facebook and Google voiced their support for this issue.

On Twitter, Facebook’s head of global affairs Nick Clegg said the social network welcomes the progress the G7 has made on the tax issue and accepts that this could lead to Facebook going have to pay more taxes and pay taxes in different countries.

According to Mr. Clegg, the G7 agreement is an important first step towards stabilizing businesses and strengthening people’s confidence in the global tax system.

Meanwhile, in an emailed statement, Google spokesman José Castañeda emphasized that the group supports efforts to update global tax regulations and hopes countries continue to work together to achieve this goal. ensure an early conclusion of a fair and sustainable agreement.

After two days of face-to-face discussions in London, the United Kingdom, which holds the rotating presidency of the G7, the G7 finance ministers agreed to support a historic international agreement on reforms to the global corporate tax system, including a commitment to a global minimum tax rate of at least 15%.

“We are committed to achieving a fair settlement of the taxing power, whereby countries have the right to impose taxes on at least 20 per cent of profits in excess of the tax margin,” the G7 Finance Ministers said in a statement. 10% for the largest and most profitable multinationals.”

The statement also affirmed that the G7 will properly coordinate the application of new international tax regulations with the elimination of the digital services tax and similar measures for all companies.