According to a study, Germany will collect up to a billion euros more in taxes through the planned redistribution of taxation rights.
Berlin – Scientists from the Ifo Institute estimated the additional income at 0.7 to 0.9 billion euros annually, reported “Welt am Sonntag”, citing a study commissioned by the Ministry of Finance.
The finance ministers of the major industrial and trading countries (G20) decided on a global tax reform on Saturday. The reform with a minimum tax of 15 percent and a new distribution of taxation rights among states is expected to come into force in 2023.
Internationally active companies should not only pay taxes in their home country in the future, but also where they do good business. According to the study, foreign companies operating on the German market will then have to pay 0.9 to 1.2 billion euros more tax in Germany every year. On the other hand, the tax authorities lost around 0.2 billion in taxes from German companies, which would then have to pay tax on part of their profits abroad.
According to the previous plans, eight German companies are affected: the electronics retailer Ceconomy, Deutsche Telekom, Henkel, RWE, Bayer, SAP, Adidas and Deutsche Post. That could change, however, once detailed questions about taxation have been clarified.
According to EU data, Germany could also receive an additional 5.7 billion euros through the planned 15 percent minimum tax. (dpa)