OECD agreement to collect 15 percent tax from multinationals | The levy was supported by 136 countries, including Argentina

The Organization for Economic Co-operation and Development (OECD) announced this Friday that 136 countries have given their approval for the establishment of a global tax on multinationals of 15 per cent, which will be charged from 2023.

“The historic agreement (…) will redistribute to the countries of the world more than $ 125 billion benefiting about 100 of the world’s largest and most profitable multinationals, who will pay their fair share of taxes, ”the OECD said in a statement. The countries that approved the creation of the global tax include all the nations that make it up. the Group of 20 (G20), which includes Argentina, the European Union and the OECD.

Thursday, the Minister of the Economy, Martín Guzmán, had ratified that “Argentina has promised to accompany the proposal”, by participating in a press conference within the framework of the Independent Commission for the Reform of International Business Taxation.

Guzmán, however, repeated that the rate should be higher, between 21 and 25 percent, because “Tax evasion by multinational corporations is one of the most toxic aspects of globalization and the digitalization of the economy.

In the same vein, the Secretary of the Treasury, Raúl Rigo, He recalled that “Argentina has requested a higher minimum effective tax rate of at least 21 percent, but preferably 25 percent. However, most members support a tax of no more than 15 percent. hundred”.

Global tax deal reached after years of missed deadlines and discussions on how to handle the tax situation of tech companies like Facebook and Google.

The OECD, which chaired the talks, estimated that a minimum rate could eventually increase government revenues by $ 150 billion a year, while the new rules would reallocate $ 125 billion to tax in countries where large businesses generate income despite physical presence.

The agreement reached also includes a commitment by these countries to no longer impose new taxes on digital services from now on. The deal builds on a preliminary deal reached in July when governments agreed on key aspects of the plan, such as which companies would be subject to profit reallocation rules.

The negotiations, which have dragged on for years within the Paris-based organization, are divided into two pillars. The first deals with the allocation of tax revenues, while the second aims to create an overall minimum corporate tax rate. Among the countries involved in the talks that reached a preliminary agreement in July, Kenya, Nigeria, Pakistan and Sri Lanka have not ratified the agreement.