G7, the new Global Tax agreement will result in more taxes for Apple

A historic agreement that introduced a real restructuring of the global taxation system. the G7 reached a common position for a 15% Global Tax for big tech, as well as a limitation of tax havens.

Global Tax

Obviously, the Cupertino company will also be affected by this new rate. The new tax regime will see a minimum rate of 15%, which will then be established by each country individually. The real big news probably concerns the fight against what are defined as tax havens, putting a stop to the practice of declaring profits in countries with a favorable tax regime.

20% of the profits of large companies exceeding the 10% margin will in fact be allocated to the countries where those gains are actually made and will be taxed there. Our Prime Minister Mario Draghi expressed words of great relief for this new agreement:

It is a historic step towards greater equity and social justice for citizens

According to the European Commissioner for Economy Paolo Gentiloni, this new agreement should affect a hundred companies, obviously including Apple. However, the Global Tax will only become operational in a few years and its entry into force, as declared by the Minister for the Economy Daniele Franco, will lead to the elimination of the Digital Tax.

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