Washington (dpa) -The deliberate international reform of company taxes will convey Germany billions in further income, in accordance with German Finance Minister Olaf Scholz. “We’re assured that Germany will even profit tremendously from this new regulation and that we’re speaking about a number of billions,” Scholz mentioned on the sidelines of a gathering together with his G20 counterparts in Washington. The Finance Minister additionally emphasised: “Which means we could have further income with out elevating taxes.” This can make the system fairer, he mentioned, although it is going to additionally give the governments involved higher leeway.
136 states have agreed to the deliberate reform on the stage of the Organisation for Financial Co-operation and Improvement (OECD). In accordance with the reform, giant, internationally lively corporations pays at the very least 15 p.c tax, no matter the place they’re primarily based. The regulation is to take impact from 2023. If an organization pays much less tax with its subsidiary overseas, the house state can accumulate the distinction.
This can put an finish to the competitors between states with ever decrease company taxes, mentioned Scholz. He spoke of a “revolutionary reform” that will modernise a system that’s nearly 100 years outdated.
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