G20: GENTILONI, ‘AGREEMENT FOR GLOBAL TAXATION REFORM, IT’S A HISTORICAL DAY
“Proud to participate in a historic day. Agreement for a reform of global taxation. # G20 under the Italian presidency #Venezia”. This was stated in a tweet by the EU Commissioner for the Economy, Paolo GENTILONI.
G20: Gentiloni, Venice pact on taxation will leave its mark
The one marked by the financial G20 in Venice, which ended today, is “a day to remember and we are pleased that this happened under the Italian presidency”. This was underlined at the end of the two days of work by the European Commissioner for the Economy, Paolo Gentiloni. “The Venice pact – he added – marks a change in the global rules on taxation that will leave its mark. The giants will no longer be able to choose where to pay taxes because it is more convenient for them and in general all large companies above 750 million in turnover will have to pay a minimum tax of 15% “. Over the next few years, Gentiloni concluded, “the economy will have to follow rules that will take into account the global and digital dimension of today’s world”.
G20: SCHOLZ, ‘AGREEMENT FOUND ON GLOBAL MINIMUM TAX’
“We have worked very hard in the last few weeks, but we have made it.” This was stated by German Finance Minister Olaf Scholz on the sidelines of the G20 Finance in Venice, expressing optimism about the agreement for a global minimum TAX of 15 percent for multinationals. While acknowledging that “we have very little time” Scholz reiterated that “our goal is that the agreement enters into force in 2023” with a definition of the details by next October. The German minister confirmed that all G20 members support the agreement that aims to prevent ‘tax competition’ between countries by relocating the headquarters of companies to low-tax countries. A topic that concerns, in particular, the digital giants, whose global share is very low.
G20: clashes between demonstrators and police in Venice
Clashes and charges are underway in the G20 area in Venice. A first charge of the police was registered around 5.15 pm after an attempt by the demonstrators to break through the security cordon set up for the G20 in Venice, exactly when Minister Daniele Franco was about to speak at the Arsenale. and the governor of the Bank of Italy Ignazio Visco for the final press conference of the summit of the ministers of the economy and central banks. The group of demonstrators is part of about 700 activists who gathered in the afternoon at the “rafts”, on the bank of the Giudecca canal.
G20: Franco, I hope those who said no will join a tax agreement
The hope is that the countries that up to now have said no to the agreement on an international tax reform that includes a minimum global tax “will change their minds”. To say this, after the financial G20 in Venice which blessed the agreement found at OECD level, is the Minister of the Economy, Daniele Franco. Of the 7 countries that at the level of the Organization for Cooperation and Development have not signed the agreement, 3 are Europeans, Hungary, Estonia and Ireland. “All the G20 countries have found an agreement with respect to this area and our ambition is to reach an agreement between all the countries”, said Franco, according to which in any case an agreement between the countries that “represent over 90% of world GDP puts some pressure on everyone else with respect to the possibility of joining the collective effort “. “Each country must accept the compromise”, concluded the minister.
G20: LE MAIRE, ‘VICTORY, DIGITAL COLOSSIS WILL FINALLY PAY RIGHT TAXES’
“Victory. After 4 years of fierce battle with the President of the Republic, Emmanuel Macron, it has been acknowledged: let’s put an end to tax optimization and the digital giants will finally pay their fair share of TAXES. It is the biggest tax revolution to date. a century”. This was stated by the French Economy Minister, Bruno Le Maire after the agreement on international taxation reached at the G20 Finance in Venice.