Posted 11/10/2023, 2:13:00 PM
Germany Approves 15% Global Minimum Corporate Tax to Raise Billions in Revenue
- Germany's parliament approves implementation of 15% global minimum corporate tax
- Part of international deal to ensure large companies pay minimum tax on worldwide profits
- Expected to raise $220 billion globally for governments struggling post-COVID
- EU countries agreed on directive last year to implement tax uniformly
- Estimated to bring in over €900 million additional tax revenue for Germany from 2026
- Revenue expected to decline in following years as deal phases in