OECD Sees Global Minimum Accord Improving Tax System: Cormann

The video discusses the international tax reform deal agreed upon by 131 countries, including G20 nations, to address inequities in global taxation due to globalization and digitalization. The reform has two pillars: reallocating taxing rights and establishing a minimum corporate tax rate of 15%. While Ireland and some European countries have reservations, the deal has broad support. The video also covers feedback from companies, the importance of consistent tax measures, and the need for domestic implementation. Future challenges include legislative processes and ensuring the effective application of the tax rate.

What is the main reason for the need to reform international taxation arrangements?

• To address inequities in revenue generation

• To promote digitalization

• To increase competition among countries

• To reduce globalization

What are the two pillars of the proposed tax reform?

• Reallocation of taxing rights and a global minimum tax rate

• Reduction of tax rates and increased competition

• Digitalization of tax systems and increased transparency

• Elimination of all corporate taxes and increased subsidies

Why is a minimum global corporate tax rate of 15% proposed?

• To reduce government revenue

• To encourage tax evasion

• To limit tax competition between jurisdictions

• To increase tax rates globally

What is the stance of the Irish government regarding the tax reform?

• They fully support both pillars

• They agree with reallocation but not the 15% tax rate

• They oppose both pillars

• They have not expressed any opinion

How do companies generally view the proposed tax reform?

• They believe it will harm their interests

• They are indifferent to the changes

• They see it as beneficial for stability and reputation

• They prefer unilateral digital tax measures

What is a significant challenge in implementing the tax reform?

• No need for any implementation

• Lack of support from any country

• Domestic legislative implementation

• Excessive support from all countries

What is the general consensus among countries regarding the tax reform?

• There is broad support from 131 countries

• Only G7 countries support it

• It is opposed by most countries

• Only European countries support it