BarcelonaThe G-7, the world’s seven main economies group-made by Germany, Canada, the United States, France, Italy, Japan and the United Kingdom, and with a permanent representation of the European Union-has announced an agreement on Saturday that exempts the large multinationals in the United States of the minimum tax payment of 15% agreed with the OECD in the countries in which they operate.
The pact had been advanced by the Secretary of the US Treasury, Scott Bessent, who celebrated the interests of his country, and in return, in return, asked the Congress to eliminate the so -called Clause 889, which was expected to retaliate. In fact, the agreement was reached from the recently proposed changes to the U.S. International Fiscal Regime in the Donald Trump’s budgetary megaproject, which is still debated in the Senate, according to the G-7 in a statement.
Bessent also asked US parliamentarians to withdraw a measure of Donald Trump’s “large and beautiful bill” that would have allowed the government to apply taxes on companies with outside the United States, as well as investors in countries imposing rates considered unfair on US companies. This clause, understood as a measure of retaliation, had aroused concern, as many believed that it would prevent foreign companies investing in the United States.
The decision, in the hands of the OECD
Instead of minimum tax, US multinationals would be subject to a “juxtaposed system”, according to the note. This, according to the statement, would facilitate “progress aimed at stabilizing the” and “fiscal system and preserving fiscal sovereignty in all countries.”
Almost 140 countries closed an agreement on the taxation of multinationals in 2021, negotiated under the Auspices of the OECD. This agreement, criticized by Donald Trump, includes two pillars; One of them establishes a 15%overall minimum tax rate.
Now, the OECD will decide whether or not to exempt US companies for the payment of this tax. “We hope to quickly achieve a solution that is acceptable and applicable to all,” said G-7 officials in their statement.
