The idea has been vigorously attacked by the Hungarian government, but according to the BBC, the favorable situation for multis is likely to be over.

The deal to change the world will be decided upon at a meeting of G7 finance ministers in London, according to German Finance Minister Olaf Scholz. Writes BBC.

According to the plan, a global minimum tax will be imposed on multis: according to the German minister, in addition to a corporate tax of 15 percent, the countries concerned will have an opportunity to pay off their debts accumulated during the pandemic, stressing confidence that a concrete agreement will be reached.

The BBC added that French Finance Minister Bruno Le Maire had encouraged Ireland, which maintains one of the lowest corporate tax rates in the European Union at 12.5 per cent, to join.

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As of now, the 15 percent is a starting point, and there’s also the possibility that the agreement will eventually include a “15 percent minimum.”

Proponents of the idea say this will force multinational companies to pay taxes on their products everywhere, not just where they register their headquarters.

If that happens, the Hungarian government won’t be happy about it: Foreign Minister Peter Sigarto Previously announcedHungary does not accept the idea of ​​a global minimum tax. This also makes sense, as the Hungarian government attracts multis with low taxes.

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