New OECD data on global low-taxed profit underlines need for the global minimum tax скачать в хорошем качестве

New OECD data on global low-taxed profit underlines need for the global minimum tax

Multinational enterprises continue reporting low-taxed profit, even in jurisdictions with high corporate tax rates, underlining the need for the global minimum tax. Jurisdictions with high tax rates account for more than half of the low-taxed profits reported globally by multinational enterprises (MNEs), according to new OECD analysis. The new estimates show how tax incentives and other concessions can result in low-tax rates even in jurisdictions with high statutory and average tax rates. The findings highlight how the introduction of a global minimum tax rate on the profits of large MNEs would create new opportunities for domestic resource mobilisation for high-tax and low-jurisdictions alike. The tax rates paid by MNEs are a key issue for determining the impact of the global minimum tax. The working paper finds that an estimated 37.1% (USD 2 411 billion) of global net profits (totalling USD 6 503 billion) are taxed at effective tax rates (ETR) below 15%. The new paper estimates that high-tax jurisdictions account for more than half of all global profits currently taxed below 15%. High-tax jurisdictions even account for more than 20% of very low-taxed profits - those with an ETR below 5%. 28% of all global low-taxed profit are located in low or middle-income jurisdictions. These low-taxed profits in jurisdictions with high tax rates, which are likely the result of tax incentives and other targeted concessions, highlight the revenue-raising potential of the global minimum tax, even in jurisdictions that have previously been thought to be high-tax. The data in Corporate Tax Statistics covers MNE taxation in more than 160 countries and jurisdictions, bringing together new detailed information on MNEs’ international activities, as well as two years of aggregated Country-by-Country Reporting data shared between companies and tax authorities. The report shows continued misalignment of MNE profits and real economic activity in markets worldwide. The median value of MNE revenues per employee in investment hubs is USD 1 710 000 , as compared to USD 290 000 for all other jurisdictions. While these effects could reflect some commercial considerations, they likely also indicate the existence of tax avoidance practices, further highlighting the importance of implementing the global tax agreement. Read more and access the content: https://oe.cd/5jp (Published 21 November 2023 11:00 CET) Version française :    • Nouvelles données de l’OCDE sur les bénéfi...