• About us
  • Impressum
  • Contact
CIVIL Today
  • HOME
  • NEWSROOM
  • POLITICS
  • SOCIETY
  • OPINION
    • EDITORIAL
    • POINT OF VIEW
  • WORLD
  • WAR IN UKRAINE
    • All
    • А YEAR OF HEROISM
    • БОРОТЬБА УКРАЇНИ
    Steinacker: Ukraine Needs Protection of Its Cultural and Natural Heritage as Well

    Steinacker: Ukraine Needs Protection of Its Cultural and Natural Heritage as Well

    Errichiello: Existential Threats Require a Unified European Response

    Errichiello: Existential Threats Require a Unified European Response

    Laurette: The Battle for Public Opinion Must Be Won to Defend Europe and Ukraine

    Laurette: The Battle for Public Opinion Must Be Won to Defend Europe and Ukraine

    Ressmann: Ukraine Fights for All of Us

    Ressmann: Ukraine Fights for All of Us

    Dunda: We are living in a time of profound change – Europe’s Last Chance to Lead

    Dunda: We are living in a time of profound change – Europe’s Last Chance to Lead

    Beuster: Without a free and independent press, democracy cannot function

    Beuster: Without a free and independent press, democracy cannot function

    Gaudiosi: NATO’s Summit Must Prioritize Coordinated Action for Ukraine

    Gaudiosi: NATO’s Summit Must Prioritize Coordinated Action for Ukraine

    Kusch: Defending Ukraine’s Information Space is Defending Democracy in Europe

    Kusch: Defending Ukraine’s Information Space is Defending Democracy in Europe

    Danyliuk: Reporting the Truth in Ukraine Has Become a Deadly Mission

    Danyliuk: Reporting the Truth in Ukraine Has Become a Deadly Mission

No Result
View All Result
  • HOME
  • NEWSROOM
  • POLITICS
  • SOCIETY
  • OPINION
    • EDITORIAL
    • POINT OF VIEW
  • WORLD
  • WAR IN UKRAINE
    • All
    • А YEAR OF HEROISM
    • БОРОТЬБА УКРАЇНИ
    Steinacker: Ukraine Needs Protection of Its Cultural and Natural Heritage as Well

    Steinacker: Ukraine Needs Protection of Its Cultural and Natural Heritage as Well

    Errichiello: Existential Threats Require a Unified European Response

    Errichiello: Existential Threats Require a Unified European Response

    Laurette: The Battle for Public Opinion Must Be Won to Defend Europe and Ukraine

    Laurette: The Battle for Public Opinion Must Be Won to Defend Europe and Ukraine

    Ressmann: Ukraine Fights for All of Us

    Ressmann: Ukraine Fights for All of Us

    Dunda: We are living in a time of profound change – Europe’s Last Chance to Lead

    Dunda: We are living in a time of profound change – Europe’s Last Chance to Lead

    Beuster: Without a free and independent press, democracy cannot function

    Beuster: Without a free and independent press, democracy cannot function

    Gaudiosi: NATO’s Summit Must Prioritize Coordinated Action for Ukraine

    Gaudiosi: NATO’s Summit Must Prioritize Coordinated Action for Ukraine

    Kusch: Defending Ukraine’s Information Space is Defending Democracy in Europe

    Kusch: Defending Ukraine’s Information Space is Defending Democracy in Europe

    Danyliuk: Reporting the Truth in Ukraine Has Become a Deadly Mission

    Danyliuk: Reporting the Truth in Ukraine Has Become a Deadly Mission

No Result
View All Result
CIVIL Today
No Result
View All Result
Home ECONOMY

Finance Ministry: North Macedonia part of a landmark deal on corporate tax reform

Developing countries will receive new tax rights allowing them to generate more tax revenue from the largest and most profitable companies, including highly digitalized companies, in line with a landmark deal on corporate tax reform, agreed by 136 countries and jurisdictions, including North Macedonia.

October 13, 2021
in ECONOMY, NEWSROOM
New Fiscal Strategy projects growth rates over 5%, drop in unemployment to 8.6% by 2026
Share on FacebookShare on Twitter

According to the Ministry of Finance, this major reform of the international tax system consists of a two-pillar solution and refers to taxation of digital activities of multinational corporations, as well as application of a minimum global corporate tax rate for large multinational corporations.

Under Pillar One, taxing rights on more than USD 125 billion of profit are expected to be reallocated to market jurisdictions each year. Developing country revenue gains are expected to be greater than those in more advanced economies, as a proportion of existing revenues.

Pillar Two introduces a global minimum corporate tax rate set at 15%. The new minimum tax rate will apply to companies with revenue above EUR 750 million and is estimated to generate around USD 150 billion in additional global tax revenues annually. Further benefits will also arise from the stabilization of the international tax system and the increased tax certainty for taxpayers and tax administrations. The global minimum tax will end tax havens and reduce incentives for multinational corporations to shift profits from developing countries, adds the Finance Ministry.

The Ministry says that OECD estimates of economic impact show that low, middle, and high-income countries will generate additional revenue, while the detailed plan on implementing the two pillars contains ambitious deadlines, i.e. this solution is expected to be implemented by 2023. The agreement is a response to changes resulting from digitalization and globalization that have affected the economies and lives of citizens and the challenges of international business income tax rules that have prevailed for more than a hundred years and have resulted in large multinational corporations not paying their fair share of the tax despite the huge profits that many of these corporations have made.

After intensive talks over aligning the international tax system with the challenges of the 21st century, 136 countries and jurisdictions, including the Republic of North Macedonia and all the countries of the Western Balkans, joined a landmark deal, i.e. the consensus for Pillar 1 and Pillar 2 from The Inclusive Framework on BEPS for addressing the tax challenges of digital economy.

Print Friendly, PDF & Email
Next Post
SCAN – political video magazine: Together in Europe

North Macedonia, Greece audit regulatory authorities to sign strategic partnership agreement

Recent News

Silence in Suits

Silence in Suits

May 22, 2025
Steinacker: Ukraine Needs Protection of Its Cultural and Natural Heritage as Well

Steinacker: Ukraine Needs Protection of Its Cultural and Natural Heritage as Well

May 22, 2025
Errichiello: Existential Threats Require a Unified European Response

Errichiello: Existential Threats Require a Unified European Response

May 22, 2025
Laurette: The Battle for Public Opinion Must Be Won to Defend Europe and Ukraine

Laurette: The Battle for Public Opinion Must Be Won to Defend Europe and Ukraine

May 21, 2025
Ressmann: Ukraine Fights for All of Us

Ressmann: Ukraine Fights for All of Us

May 21, 2025

  • About Theme
  • About us
  • ADVERTISE WITH US
  • Authors List
  • Blog
  • Cart
  • Checkout
  • Civil.Today
  • Contact
  • Contact
  • COOKIE POLICY
  • COPYRIGHT
  • Digital library
  • Edit
  • Edit Profile
  • Forum
  • FullWidth Page
  • Gallery
  • Home
  • Impressum
  • Insert Post
  • My Account
  • Pinterst Style
  • Posts
  • Pricing
  • PRIVACY POLICY
  • Resilient Journalism Countering Disinformation and Propaganda publication
  • Sample Page
  • Shop
  • ShortCodes
  • Signup Page
  • Sitemap Page
  • TERMS & CONDITIONS
  • TimeLine Blog
  • Timeline Page
  • Topics
  • Videos

© 2021 CIVIL - Center For Freedom

No Result
View All Result
  • NEWSROOM
  • POLITICS
  • SOCIETY
  • ECONOMY
  • OPINION
    • POINT OF VIEW
    • EDITORIAL
  • WORLD
  • MONITORING
  • WAR IN UKRAINE
  • About us
  • Impressum
  • Contact

© 2021 CIVIL - Center For Freedom