The G-7, a group that brings together the seven main economies of the world, has arrived at an agreement with an agreement with the United States to exempt US multinationals from the minimum 15% tax to which 130 countries committed to companies that invoice more than 750 million euros, as advanced .
The first news about this agreement, which has been formally announced this Saturday, gave it on Thursday in his X account the Treter Secretary of Trump, Scott Besent, who linked him to a last minute touch -up in the “big and beautiful law” launched by the US executive. “After months of productive dialogue with other countries on the OECD Global Fiscal Agreement, we will announce a joint understanding between the G7 countries that defends the interests of the United States,” he wrote.
“Pilar 2 taxes of the OECD will not apply to US companies and we will work cooperatively to implement this agreement in the OECD-G20 inclusive framework during the next weeks and months,” he added. The Treasury Secretary stressed that the agreement to avoid the 15 % tax will avoid the US. “The loss of more than 100,000 million dollars of US taxpayers.”
In exchange for the Pact with the G-7, whose last meeting was held last week in Canada, Besent asked the United States Congress to in the fiscal and budgetary plan that is currently being processed withdrawing the so-called “Clause 889”, which authorized Washington to take reprisals whenever he considered that his companies suffer from tax discrimination. To do this, the right to impose “revenge taxes” was reserved for foreign investments.
The new tax method will provide “greater stability and certainty to the international tax system in the future,” says a joint statement made public this Saturday by the seven main advanced economies of the world, as published The country.
As part of the agreement, the other members of the G-7 undertake to support the position of the United States in negotiations with the G-20 and with the Organization for Economic Cooperation and Development (OECD). It was in this last framework in which the Minimum Multinational Tax Pact was signed four years ago.
Mathias Cormann, general secretary of the OECD, described the declaration of this Saturday’s G-7 as “an important milestone in international tax cooperation,” according to and. However, Manal Corwin, head of Taxes of the OECD, described the declaration of the G-7 as not binding and added that any proposal would need to be approved by 147 countries at the OECD level. “The G7 alone cannot make this decision,” he added.
The OECD agreement to establish a minimum global tax was achieved by more than 135 countries in 2021 to avoid tax evasion by multinationals and update the international tax system for the digital age. A minimum tax rate of 15% of global gains for larger multinationals in the United States and other places, which was implemented by several countries last year was established.
Under provisions that particularly enraged Republicans in the United States, the OECD Agreement allowed other countries to impose complementary taxes on US companies considered “subgravated.” But the OECD rejects the idea that other countries can now withdraw from the global minimum tax, or that US companies would be in advantage over companies from other countries that have adopted the regime, according to the British media.
