The G-7, a group that brings together the seven main economies of the world, reached an agreement this Saturday to exempt US multinationals from the minimum 15% tax for Companies that invoice more than 750 million euros.
The new covenant satisfies an old aspiration of Donald Trump, who announced on his return to the White House his intention to get the country out of the agreement. The first news was given on Thursday in his X account Trump’s secretary, Scott Besent, who linked him to a last minute retouching launched by the US executive.
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 eliminate the so-called “Clause 889 ″, which authorized Washington to retaliate whenever he considered that his companies suffer from tax discrimination. For this, the right to impose“ revenge taxes ”was reserved for foreign investments.
The United States agreement with the G-7 considerably alters the scope of the 2021 pact, but which can now be decaffeinated. In his signature, it was considered that it was an important advance in establishing a minimum global tax that was also called to combat the tax evasion of multinationals.
“President Trump Allanó [en Canadá] The way for this historical achievement, ”Besent wrote on X about the newly achieved exemption for his large companies. The Treasury Secretary then remembered that the US President signed the day of his inauguration two executive orders that asked the Treasury to“ defend the fiscal sovereignty of the United States ”.“ Thanks to his leadership, we now have a great agreement for the US people, ”Bessent concluded.
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 in the world.
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 G-7 statement of this Saturday as “an important milestone in international tax cooperation,” the.
The agreement is partially out of the “taxes on digital services”, by virtue of which some countries tax the profits of US technology companies, case of goal, Apple or Amazon. These levies caused Trump on Friday to go into anger and
Ottawa had to enter into force on Monday a tax to those companies of 3% to the benefits obtained by these. “Obviously,” the Republican President wrote on Friday. “[Con el plan de imponer a partir del próximo lunes un así llamado impuesto digital] They are imitating the European Union, which has done the same and that it is currently in conversations with us, ”Trump wrote on his social network, Truth. In that post he also made known that” in the next seven days “will communicate to Canada which tariffs intends to impose on imports that cross the northern border.
