The German Finance Ministry expects additional revenues from the global minimum tax for large corporations from 2026, according to a draft bill drawn up to implement the EU directive.
The bill follows a 2021 deal that rewrites the rules of international taxation to deter multinational companies from booking profits in low-tax areas, which nearly 140 countries are supposed to start implementing from next year.
Under the new rules, multinational firms will have to pay a tax rate of 15% on all of the profits they make worldwide, regardless of where the profits are generated.
The German Finance Ministry forecasts additional tax revenues of 910 million euros ($1.00 billion) for 2026. In 2027, it foresees 535 million euros in additional revenues and in 2028, 285 million euros.Under current rules, subsidiaries located in tax havens pay very little in tax, which benefits corporations at the expense of governments.
via Reuters
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