Leaders of the 20 largest economies in the world gathered at a summit of the G20 decided to support an agreement of the Organization for Economic Cooperation and Development (OECD) by a tax 15% global and minimum corporate, showed drafts of the two-day G20 summit on Saturday, aimed at implementing the rules by 2023.
“We call on the OECD/G20 Inclusive Framework on Base Erosion and Profit Transfer to rapidly develop the model rules and multilateral instruments agreed in the Detailed Implementation Plan, with the aim of ensuring that the new rules take effect globally in 2023” , said the draft conclusions, seen by Reuters.
The conclusions will be formally adopted on Sunday.
In October, 136 countries reached an agreement for a minimum tax on global corporations, including internet giants like Google, Amazon, Facebook, Microsoft e Apple to hinder tax evasion through headquarters established in low-tax jurisdictions.
“It’s more than a tax deal, it’s a revamping of the rules of the global economy,” one US official told reporters.
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