EU’s latest experiment: A new maxi tax appears

EU's latest experiment: A new maxi tax appears

Multinational companies in EU countries are “shaking”: this may seem like a contradiction, but it is a factual theory. Tax And not just for those who invoice billions of euros a year.

Profit from tobacco

Eni, Enel, Intesa and Unicredit will be forced to name a few To pour Good money for the state: only $ 170 billion will be collected, 25.7 per cent of the Cassa deposit will be owned by e Prestity and 4.3 per cent will be directly owned by the Ministry of Finance and Finance, which regularly collects dividends and passes unlimited from oil companies. To the Ministry of External Affairs. But not so, because US President Joe Biden wants to impose a minimum tax on profits made abroad: in this case the Italian tax authorities will collect more.

The study says

As reported Tomorrow, A collaborative observatory Paris School of Economics Published a study based on the hypothesis of a minimum tax Profit According to the business estimate, the country is 25%, three percent higher than President Biden wants to impose on US companies and nationals, but four points higher than the initial proposal of a global minimum tax of 21%. The study estimates that if companies pay a minimum tax rate of 25% on their profits, EU countries will collect more than 170 billion, which is more than half of the current total collection, which is 12% of the countries’ health care costs. If we add to this at the same minimum level at least a fraction of the tax not paid by non-European multinationals, the total would be $ 200 billion.

See also  The FDA is investigating rare allergic reactions to the Pfizer corona virus vaccine, but says the rollout will continue.

How much will companies pay?

In this way, the gap between the current situation and the 25% general EU tax would lead a company like Enel to pay 356 million more than it paid in Italy by 1.9 million euros in 2019; Eni will pay 3.6 per cent more, an increase of 1 171.5 million from 4. 4.7 million in 2019. Intesa San Paulo Fill in the blanks With a gap of 40.8% and a payout of 672,000 euros compared to 1.6 million in 2019, Unicredit 29 will rise by approximately 292,000 euros, an increase of 32% from 901 million. However, the same tax does not apply to other countries: in Kazakhstan, which makes huge profits, the effective tax rate is 19%, while in Ghana, Jersey, Singapore, Brazil and Bermuda it is zero. Even in Slovenia it is below the 15% level.

There are those who say no

There are those who do this mayor magnet Opposes, A few days ago the news that the G7 countries like Ireland and Luxembourg could find the first deal was beaten by the agencies, so the leaders of the global economy are leading by example. The European Union’s Observatory’s concept goes in the same direction: the eurozone’s major economies, starting with Germany, France and Italy, can lead themselves in line with the US government’s recommendations. “Although the tax base has not raised taxes, the European Union could be a global leader in the process but can prevent the spiral of international tax competition.“, We read in the study.”Launch of the European Tax Observatory – EU Commissioner for Economy Paulo Gentiloni said at a press conference to present the center – It represents another important step in our path to better taxation. The Observatory will support us in our work by providing vital data that can inform our policies through cutting-edge research and analysis.Is this really the case?

See also  Roundabouts and priority, the driver's eternal nightmare

Written By
More from Jake Pearson
Dido Harding’s deputy in Test & Trace ‘lost’ in anarchy for months
Dido Harding’s deputy at Test & Trace was ‘lost’ in months of...
Read More
Leave a comment

Your email address will not be published. Required fields are marked *