The mechanism, to be adopted by 2030, follows the path already outlined by the Organization for Economic Cooperation and Development (OECD) of a system based on two pillars. One of the most enthusiastic was the President of the United States, Joe Biden, who welcomed the agreement and assured that the international community would thus "help people by making companies contribute by paying their share" of taxes. The G20 heads of state or government agreed on a global minimum corporate tax of at least 15% to achieve a fairer tax system and prevent them from taking advantage of complacent tax regimes and not paying taxes where they operate.
"After four years of intense debate, a historic agreement has been reached on a solution based on two pillars to address the tax challenges emerged with the digitalization and globalization of the economy," assured sources of the Italian presidency in turn of the forum of the twenty powers. The first day of the G20 leaders' summit in Rome today achieved a first goal: the adoption, after lengthy negotiations, of a global minimum tax on multinationals to balance the international tax system.
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