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Global tax, how much does Italy earn from the new tax on multinational companies

Global tax, how much does Italy earn from the new tax on multinational companies

It is the political success of the “Great,” which some observers have attributed above all to US Treasury Secretary Janet Yellen. Of course, the diplomatic effort could also depend on the contribution of US President Joe Biden, whose advances on the political agenda did not need to be further emphasized.

Agreement found in G7Which also includes Italy, which met yesterday in London. Now it will be necessary to find the right place in the G20 and then in the OECD, the most representative international organizations. what is he talking about? Briefly “global tax“to multinational companies. Including also Facebook, Amazon and Google, the beneficiaries of the crisis, both if we look at the change in the lifestyle of the world’s population and in budgets (Who is the Excellent first quarter results on Facebook)

What is the global tax sponsored by the United States and how does it work

At least multinational corporations will be taxed 15th%. to this Rate One will be added National, that is, on the profits that the giants make at home: it reaches a limit 20% Profits of companies exceeding margin 10.

What does all this mean for Italy? In other words, how do the thresholds set by the “Great” translate to Higher returns to the state treasury? First of all, it should be noted that the agreement will enter into force in a few years. And that our country already provides for a “digital tax” on the profits of multinational technology companies. A measure that will be replaced by the global tax, but only when the latter comes into force.

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How much money for Italy from the new tax system for multinational companies

It is not easy to expect the transition from words (political agreement) to action (operating rules) in the outcome. This is evidenced precisely by the digital tax, which overestimated it by about 550 million. However, most of the revenue should come from digital giants specifically. In fact, these companies currently pay taxes in tax havens, where they have a registered office. With the global tax (which, it’s good to repeat, is amazing All multinational), according to estimates by the European Tax Observatory, will come to the disposal of the Italian public machine 2.7 billion euros more.

A different rhetoric for taxing non-technological multinationals, which would enjoy a soft tax regime, regarding global taxation would move little (Who is the All the details of the procedure agreed upon by the G7 leaders). The next step to make the agreement more realistic is the G-20 in July: with the Italian presidency scheduled for Venice.