The OECD supports at least 15% of companies in countries such as Spain to avoid loss of revenue.

The OECD has confirmed this The minimum rate for companies is 15%. which is proposed to be installed globally, is also used in high tax countries such as Spain. A report published this week shows that much of the benefit, which is taxed little, is generated in areas with high legal rates. Thus, it provides arguments for measures such as those agreed by the coalition government to apply the minimum rate on profits that was already in force in Spain.

“The findings highlight how the introduction of a global minimum tax rate on the profits of large multinationals, as agreed by the OECD/G20 Inclusive Framework, will create new opportunities for domestic resource mobilization for both high and low tax jurisdictions.” Low taxes, “- noted in the report prepared by the international organization.

Within two years, more than a hundred countries have committed to using a minimum corporate tax rate of 15%. Thus, large multinationals will lose their incentive to use low-tax havens to shift their profits in order to pay less tax than they do. However, the OECD now emphasizes that this measure applies to areas with lower taxes as well as areas with a higher tax burden.

This refers to countries such as Spain. The statutory rate for companies here is 25% in general and 30% in banking or oil companies. However, the reality is that large multinationals pay effective rates well below the 15% they want to establish globally for a number of reasons.

In this context, in the previous legislature, the government approved the application of a minimum rate of 15% to the tax base. That is, the result of the company, which lacks various aspects. This effectively reduced the impact of this event. However, the new CEO was born with an obligation to use this minimum of 15% of the company’s profits, which is in line with what is proposed in the OECD.

The organization ensures that the focus is not only on low tax areas, but also on areas that have a statutory or average rate above 15%. “Unlike previous studies that focused on low-tax profits only in low-tax jurisdictions, the new paper estimates that high-tax jurisdictions (jurisdictions with statutory and average tax rates above 15%) account for more than half (56.8%). ” Business profits from lower taxes, according to OECD report.

what is it about The international organization refers to “fiscal incentives”. These are tax incentives that undermine tax collection and with justifications that are not always fulfilled. In Spain, for example, there has been widespread talk of a “gruyere cheese” effect, due to the multiple loopholes that incentives create and reduce the real impact of the tax. For example, despite the fact that Spanish companies are earning more than ever before, corporate collections are still far from the peaks reached before the financial crisis.

Beyond this focus, the OECD notes in its report that companies continue to have more than a third of their profits taxed below 15%, reducing revenue for both high-tax and low-rate countries. very low.

Source: El Diario

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