If the United States wants international support for a global minimum corporate income tax rate, American tech companies must also make a fair contribution. This said British Chancellor of the Exchequer Rishi Sunak in an interview with Mail on Sunday.
So-called G7 finance ministers will meet next week. Government officials from the UK, France, Germany, Italy, Japan, Canada and the United States, among others, talk about the White House plan for an international minimum rate of 15% for corporate income taxes. President Joe Biden wants to make tax avoidance elsewhere less attractive through PO Box companies in countries with favorable tax climates. But Sunak is concerned that big tech companies in particular are still paying too little to the Treasury.
“We need to explain to them why fair taxes for tech companies are important to us. A deal is needed, so I urge the US and the G7 to do it. Negotiations are going well, but we need a good deal. for Britain, “Sunak said in the Mail on Sunday.” Large multinationals, especially digital companies, are unable to pay the right taxes in the right countries. It is not fair.”
The UK government previously introduced a special tax for digital businesses. Large international companies with search engines, online stores or social media have to pay 2% on their turnover in the UK. This affects, among others, the American concerns Google, Facebook and Amazon. The United States therefore sees the digital tax as discriminating against American companies and threatens the British with import duties or other measures.
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