USA proposes new tax model for international companies
The United States has proposed a new tax model for the largest corporations that will force them to give more money in all countries where they make money. This will only affect the most significant giants with huge revenues and profits. Earlier, the United States proposed to introduce a minimum global corporate tax rateThe administration of US President Joe Biden has developed a new taxation model for multinational corporations, the Financial Times reported, which reviewed the proposal. Its essence is to oblige the largest multinational companies to pay taxes to the governments of the countries where they operate, depending on sales in each of these countries.The plan was developed by the US Treasury. Only the largest and richest corporations in the world, regardless of the sector of the economy in which they work, will fall under its influence - the indicators of revenue and profits will be taken into account, writes FT. According to the newspaper, the new rules will affect only about 100 companies, including technology giants from the United States. If the US proposals are accepted, other countries will be able to increase their revenues from the largest multinational business, which still operates in different jurisdictions, but pays little taxes in them, the publication added.The adoption of the changes does not mean that companies will have to pay more in monetary terms, Bloomberg notes. But they will face the fact that their profits will be taxed by more countries than they are now. "They will pay more taxes in countries where they have users or consumers, and less in the country where their headquarters are located, provided that it is not the same country," the agency describes.The US has sent a proposal to 135 countries, including the Organization for Economic Cooperation and Development (OECD), on the basis of which changes in the international tax system are being discussed, the FT reported. The head of the tax department of the organization, Pascal Saint-Amand, supported the idea of Washington. He said that it "reboots" the negotiations and has a chance of success both in negotiations at the international level and in discussions in the US Congress.