The global minimum tax increases world tax revenue by an estimated $220 billion.
This figure was given by the industrialized countries organization OECD on Wednesday.
By the end of 2021, more than 135 countries have agreed to overhaul the global tax system.
One element (professionals call it “Pillar 2”) is the global minimum tax of 15 percent.
It applies to companies with sales of more than 750 million euros.
The organization had originally estimated the associated additional revenue at 150 billion dollars, but the assumed plus is now significantly higher.
Business correspondent in Berlin.
Follow I follow
The second element of the new regulation (“Pillar 1”), which is due to come into force at the beginning of 2024, is a reallocation of taxing rights.
According to the updated estimate, this is about 200 billion dollars.
The global tax increase is estimated here at 13 to 36 billion dollars.
The aim was to give the market states a greater share in the profits of the globalization winners.
The new rules apply to companies with a global turnover of more than 20 billion euros and a profitability of more than 10 percent.
A quarter of these excess profits are allocated to market states for taxation.
Initially, it was assumed that the companies' home countries would lose taxation rights of 125 billion dollars.
Because these corporations have grown faster than assumed, the OECD experts have increased their forecast.
Up to 6.7 billion euros for Germany?
After initially only digital corporations such as Google, Amazon, Facebook and Apple were in focus and individual countries such as Great Britain, France, Italy and Spain had developed special digital taxes in order to participate in their profits, the central goal of the multilateral agreement is to allow such a unilateral approach impede.
According to the new estimate, only half of this pillar now affects “digital” companies, others that will fall under it earn their money with medicines, vaccines and luxury goods, for example.
"The exact allocation of taxation rights will be determined individually for each of the likely hundred or so companies affected by Pillar 1," explained OECD tax expert Achim Pross.
Basically, this is done using a sales key.
"The tax rates that are levied on the redistributed profits are determined by the respective recipient states," he told the FAZ. The states in which these profits are currently taxed either make this income tax-free or offset the taxes of the market states.
Additional tax revenues arise because the reallocation of taxing rights occurs, on average, from countries with low tax rates to countries with higher tax rates.
Large market states such as Germany benefit, but also other countries
The Munich-based Ifo Institute recently calculated an annual increase in revenue from the global minimum tax of up to 6.7 billion euros for Germany.
If there were less profit shifting, it could even be up to 8.1 billion euros more.
If all countries increase their effective tax rates to at least 15 percent, the end result will only be an increase of 1.7 to 1.9 billion euros.