Arriving at an agreement Global corporate tax.
In fact, as stated by the EU Commissioner for Economy, Paolo Gentiloni, the OECD in Ireland decided to impose a 15% lower global tax on companies in international contracts, and a few hours later it was added to Ireland.
Currently, only Victor Orban’s Hungary in the European Union opposes the treaty, and the union itself is not allowed to ratify the treaty because it demands the unanimity of members on tax matters.
Ireland’s election can be described as historic because it has a tax rate of 12.5% on profits, the lowest rate in developed countries. The Irish decision is a blow to big technologies such as Apple, Google, Amazon and Facebook, which have chosen Ireland to benefit from more tax treatment for more European operations, but today they are only paying the 1.5 56 companies that pay 12.5% of their profits. Dublin also loses: The new global tax, which is due to take effect in 2023, will cost up to $ 2 billion in lost revenue.
However, Ireland examined the possibility of maintaining a 12.5% rate for domestic companies up to 750 million.This is the right decision, the wisest and most prudent decision, ”Finance Minister Pascal Donohue told a news conference, adding that Dublin had withdrawn its opposition to the global corporate tax review and agreed to revise its rates for large multinational corporations by 12.5%. Donoho said he was confident that Ireland would remain an attractive country for investment by international multinationals.
Along with Ireland and Estonia, 141 countries around the world are now ready for a historic signature that will prevent tax competition.
However, once the deal is made on the card, the details will have to wait until the beginning of next year.
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