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Austria Eyes $850 Million Windfall From G-7 Global Tax Deal

June 11, 2021, 10:15 PM

Austria’s government is set to be on the winning side of a landmark agreement between the world’s richest major economies on how to tax some of the largest companies.

The European nation would receive 700 million euros ($849 million) in additional tax revenue each year if the deal is implemented in its current form, Finance Minister Gernot Bluemel told reporters on Friday.

Plans for a Global Minimum Tax Revolution, Explained: QuickTake

Austria has delayed plans to cut its 25% tax rate on corporate profits to 21%, leaving the burden among the highest in the European Union. It also came under ...

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