"When the leaders of the G7 countries meet this weekend, they should endorse the proposal for an international company tax deal, which was hammered out by the G7 Finance Ministers last week. The leaders should also come up with a convincing strategy on how to obtain the consent of all members of the Organisation for Economic Co-operation and Development (OECD). The chances for an international tax deal that can truly make a difference have never looked as good as today. A big push by G7 leaders would certainly help getting an OECD deal over the finishing line," said Markus Ferber MEP and EPP Group Spokesman on Economic Affairs ahead of the G7 Summit in Cornwall, UK, this weekend.
"I am confident that the Cornwall G7 Summit will open the way for an OECD agreement. Big multinational tech companies must pay their fair share of taxes in countries where they operate and generate their profit. In a globalised and digitalised world, this challenge must be tackled at an international level and I expect the European Union to lead the efforts at the OECD level," said Lídia Periera MEP, EPP Group Spokeswoman in the Subcommittee on Tax Matters.
In their meeting last week, the G7 Finance Ministers agreed on a minimum effective corporate tax rate of 15%. There are many technical details that have to be tackled ahead. For the EPP Group, a main objective must be the guarantee that tax competition is fair and loyal and that any international agreement preserves our companies competitiveness.
The EPP Group is the largest political group in the European Parliament with 178 Members from all EU Member States