Germany stands to gain revenue from the two-part global tax plan agreed by nearly 140 countries last fall, its finance ministry said.
The Organization for Economic Cooperation and Development-led effort includes a reallocation of a portion of the largest multinationals’ profits to market jurisdictions, known as Pillar One, and a 15% global minimum corporate tax rate, known as Pillar Two.
- Although Germany is a net exporter—and Pillar One generally moves profits to net importing countries—the government has kept its eye on making sure the country is not a revenue loser under the measure, the finance ministry said in a question-and-answer ...