Great Britain imposes exemption from global minimum tax

Great Britain According to a press report, you will receive a special list of financial service providers from the new global tax reform. Organization of industrialized nations Organization for Economic Cooperation and Development The Financial Times reported on Wednesday that Britain’s arguments in favor of the exemption are accepted as understandable.

London’s chancellor, Rishi Sunak, has urged financial service providers to exempt them from the new minimum tax in order to keep banks at bay. London Not burdening us financially. The reason for this is that after Brexit, financial institutions will already have to struggle to prevent them from accessing markets from the EU. A UK Treasury spokesman initially declined to comment.

Minimum tax of 15 percent

In fact, the new minimum tax should mean that companies around the world have less chance of shifting profits to countries with lower taxes. The basic agreement between the 139 countries under the OECD umbrella on global tax regulation should cause companies to pay more taxes in the countries in which they operate. Banks usually already pay taxes in the country where they make their profits, according to the Organization for Economic Co-operation and Development in a research paper from 2020.

Federal states are currently discussing details of the reform. It is scheduled to be held until Thursday and is considered crucial for the meeting of the Group of Twenty of Finance Ministers next weekend Venice Reach a consensus. The core of this initiative is the mandatory minimum tax rate for large cross-border companies of at least 15 percent.

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Tangible effects on government revenue have so far been assessed as manageable. France Calculated with additional income in the single digit billion range from tax. According to the calculations of the European Union Tax Monitor, an independent analysis firm, France can expect 4.3 billion euros.


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