For example,
G7 agreement global minimum tax:
Agreement to the G7 on the global taxation of multinationals. Furthermore, with a showy exemption for US companies that represents a new victory for President Donald Trump. Moreover, The Canadian presidency of the G7. Consequently, in a note, explains that the agreement was found for a “parallel solution” which due to the “tax sovereignty of the countries” exempts American companies from some parts of the new tax regime, due to the taxes that already pay in the USA. The turning point risks upsetting the “Global Minimum Tax” on which a historical agreement had been reached in 2021. which aimed to end the tax avoidance practices of multinationals: in particular the Big Tech US.
The announcement of the Canadian Ministry of Finance – G7 agreement global minimum tax
The achievement of the agreement was announced g7 agreement global minimum tax by the Canadian Finance Ministry. Following the discussions on the issue “a shared vision emerged according to which a parallel system could preserve the important results obtained by jurisdictions within the inclusive framework in the fight against the erosion of the tax base. the transfer of profits and guarantee greater stability and certainty to the international tax system in the future”, reads the note. The Ministry of Finance explains that “the construction of a parallel system will facilitate further progress towards the stabilization of the international tax system. including a constructive dialogue on the taxation of the digital economy and on the safeguarding of the tax sovereignty of all countries”.
It is possible, if not probable, that the solution found at the G7 level – all the more below the president of Canada – can affect the fluctuating negotiations of the g7 agreement global minimum tax various groups of countries with the United States on duties.
Giorgetti: honorable compromise
On the solution. the Italian Finance Minister, Giancarlo Giorgetti, underlined that “the formalized agreement in the G7 on the Global Minimum Tax is an honorable compromise found with the American administration that protects our companies from automatic retaliation originally provided for by the Obbba 899 clause (One Big Beautiful Bill Act) at the exam of the Senate USA, the proposal of tax law wanted by Donald Trump which provides for the extension that provides for the extension that provides for the extension of tax cuts and selective reductions in public spending for a total value of approximately 2,700 billion dollars
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