Donald Trump and Big Tech American Cheer: The global minimum tax agreement on the global taxation of multinational companies in the G7 includes a flashy exemption for American companies. The G7 Presidency of Canada explains that the agreement was found for a “parallel solution”. Considering the “tax sovereignty of countries”, US companies are exempt from some parts of the new tax regime due to taxes already paying in the USA.
Giorgetti satisfied: “Prevent retaliation in our companies”
For Economy Minister Giancarlo Giorgetti, an honorable reconciliation found with the US administration that protects our companies from the automatic retaliation stipulated by 899 articles of Obba Editor’s noteOn the examination of the Senate. “We have to work in this direction and encourage dialogue,” Giorgetti added.
The agreement reached will facilitate more progress in the stability of the international tax system, including a “constructive dialogue” related to the “protection of tax sovereignty of all countries”. In the coming weeks, the agreement should be discussed in 2021, an international organization, which is the history of global minimum tax. The G7 decision for Secretary General Mathias Cormann is “an important milestone in international tax cooperation”.
A success for Trump (and American Big Techs)
In fact, the agreement is risks that upset the original system of the global minimum tax, which aims to put a set of multinational companies of US technological giants. It is estimated that the latter will save approximately 100 billion dollars of tax savings abroad. For Trump Guidance Management, the agreement obtained represents a success achieved by the threat of retaliation on foreign investments.
In the same note of the Presidency of Canada, after the negotiations and the US authority to tax on foreign investments, the ‘Trump’s removal of a great beautiful invoice’, a parallel system can provide significant steps in the tax base and profit system and may face international taxes and may face international tax.
Source: Today IT
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
