The G7 summit this weekend will propose a globally agreed minimum corporate tax. Corporations will have to be taxed, according to the latest assumptions, at a rate of at least 15 percent. According to the calculations of Allianz Research and Euler Hermes, Poland is one of the countries that will benefit most from this.
The G7 proposal assumes that companies around the world should be taxed at a globally agreed minimum rate. According to modern assumptions, it will be 15 percent.
The introduction of a global minimum corporate tax aims to prevent the phenomenon known as base erosion and profit shifting (BEPS).
The biggest beneficiaries of the changes
Among the major countries involved in preventing this phenomenon and for which data are available, it was found that the proposed solutions would benefit more than others. PolandAnd the SpainAnd the China I Holland – Follows from the accounts of Allianz Research and Euler Hermes Department of Economic Research.
According to analysts, Polish economic growth may be higher thanks to this tax as much بقدر 0.8 percentage point annually.
The G7 decision will be the start of a major negotiation process, and the potential agreement is expected to be signed in October 2021 during the next G20 meeting.
The initiative aims to reverse the long-term decline in the statutory corporate tax rate. It is a response to the crisis caused by the Covid-19 pandemic, which has caused an increase in global public debt.
The G7 is made up of seven countries that are among the world’s most important economies. These are France, Japan, Germany, the United States, Great Britain, Italy and Canada.
Effects will be heterogeneous on a global scale نطاق
Analysts from Allianz Research and Euler Hermes point out that the effects of introducing a global minimum tax rate could be very different for countries with different tax systems. For example, countries with less than 15% will lose out largely from the change. Therefore, Ireland opposes European tax harmonization.
Allianz Research is a research division of a German insurance company that operates in 70 countries around the world and serves 78 million customers.
Euler Hermes is an insurance and financial group created as a result of the merger of the German credit insurance company Hermes Kreditversicherungs AG with the international Euler Group.
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