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Statement From OECD Secretary-General Mathias Cormann On The Outcome Of The G7 Finance Ministers’ Meeting


OECD
Secretary-General Mathias Cormann
welcomed today’s
ground-breaking agreement
by G7 Finance Ministers
on key elements of international
tax reform designed to address the tax challenges of the
digitalisation and the globalisation of the
economy.

“Governments around the world need to be
able to raise the necessary revenue to fund the essential
public services and support that their populations require
and expect, in a way that is efficient, least distorting and
also fair and equitable”, said Mr. Cormann.

“The
combined effect of the globalisation and the digitalisation
of our economies has caused distortions and inequities which
can only be effectively addressed through a multilaterally
agreed solution.

“Today’s consensus among the G7
Finance Ministers, including on a minimum level of global
taxation, is a landmark step toward the global consensus
necessary to reform
the international tax system
.

“There is
important work left to do. But this decision adds important
momentum to the coming discussions among the 139 member
countries and jurisdictions of the OECD/G20
Inclusive Framework on BEPS
, where we continue to seek a
final agreement ensuring that multinational companies pay
their fair share
everywhere.”

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