ROME, May 21 (Reuters) – Italy, which holds the annual G20 presidency, on Friday welcomed a US Treasury Department proposal for a global corporate tax of at least 15%.
Washington on Thursday offered to accept a rate of at least 15% in international negotiations, well below the proposed minimum of 21% for US multinational corporations.
“The possibility of a global and consensus-based solution is now concrete,” said Italian Economy Minister Daniele Franco in a statement.
As president of the Group of 20 Rich Countries, Italy will do “everything possible” to broker an agreement on a minimum global corporate tax level at a G20 meeting in Venice in July, added Franco. (Reporting by Giuseppe Fonte, editing by Gavin Jones)