GLOBAL MINIMUM TAX:
a game changer for EU shipping?
38 SUOMEN MERENKULKU J FINLANDS SJÖFART
Discussions are taking place at the
Organisation for Economic Co-operation
and Development (OECD) to try to reach
an international agreement on a global
minimum tax for multinational companies. This
process has gained momentum now that the US
Biden administration has come out in favour of a
21% global minimum tax.
The OECD is trying to address ‘base erosion
and profit shifting’ challenges and is proposing
rules that would provide jurisdictions with a
right to ‘tax back’ where other jurisdictions have
not exercised their primary taxing rights, or the
payment is otherwise subject to low levels of
effective taxation.
An OECD proposal for a global minimum
tax would ensure that public invest-ments
made by society to promote
an industry also provide returns in the
form of job creation, adequate training,
and decent working conditions, writes
Estelle Brentnall from the European
Transport Workers’ Federation.
IMAGE CREDIT: NAUTILUS