(Corrects the name of the newspaper in Switzerland, not in Schweitzer)
ZURICH, July 3 (Reuters) – Alfred Gantner, co-founder of the Swiss investment manager Partners Group, supports a global minimum tax rate of 15% and told a Swiss newspaper that such a change was “a step in the right direction” and would “definitely not” being. hurt his company’s prospects.
“If you ask me whether the Partners Group would be worse off with a tax rate of 15% instead of our average international tax rate of 13.3%, my answer is definitely not,” Gantner told Switzerland over the weekend, published on Saturday.
Around 130 countries have backed the Organization for Economic Co-operation and Development (OECD) call in Paris to impose a minimum corporate tax of at least 15% on multinational companies, which could bring in $ 150 billion in additional tax revenue annually.
The Partners Group is based in the tax-friendly Swiss canton of Zug, whose tax rate is less than 12%.
The 53-year-old Gantner, who 25 years ago co-founded the investment company that has a majority stake in the toy manufacturer Schleich and has a minority stake in the Chinese mail order company Apex Logistics, sees the second pillar of the OECD reforms, which relocate taxation rights to countries, will generate critical profits .
These proposed rules for taxing multinational corporations came about when digital commerce allowed large tech companies to post profits in low-tax countries regardless of where they made their money.
“I see more problems here than with the minimum tax,” Gantner told the newspaper. “Such a shift could make sense for a purely online company whose added value, like the distribution of goods, falls on the markets in which the goods are sold.”
For manufacturing companies, however, a stronger tax focus on the sales markets is not sufficient, since their value creation takes place above all where research and production take place. (Reporting by John Miller; Editing by Alex Richardson)