Technology giants in particular have been able to lower the taxes they pay by being registered in lower-tax countries, even though they make the majority of their profits elsewhere.
G7 countries reached an agreement on a global minimum corporate tax on Saturday, according to Reuters. A group of seven major economies decided to commit to a global corporate tax of at least 15 percent.
France, Germany, Italy and Spanish finance ministers said as early as Friday, June 4th In the Guardian in its letter that an agreement on a minimum tax rate is achievable.
“France, Germany, Italy and Spain have been working together for more than four years to create an international tax system suitable for the 21st century. There have been many twists and turns along the way. Now is the time to reach an agreement,” the ministers said in the letter.
HS said In May, the Ministry of Finance estimated that a global minimum tax level of 15% for companies and organizations would clearly increase Finland’s tax revenues.
Read more: Finland can expect a big tax pot, corporate tax reforms would bring more than 200 million euros to Finland, according to the Ministry of Foreign Affairs
The Ministry of Finance calculates that if the international minimum tax level were 10 per cent, its direct tax effect would mean EUR 41 million more tax revenue for Finland.
If the global minimum tax level were 12.5 percent, tax revenue would rise to more than 75 million and if 15 percent, direct tax revenue would increase to more than 113 million euros.