RIO DE JANEIRO, BRAZIL - Brazil could raise US$1 (R$ 5.03) billion in additional tax revenue per year by imposing the minimum global tax rate of 15% on Brazilian multinationals, under a proposed tax deal that may be given the go-ahead by the G-20 in Venice (Italy) in July. The estimate is from the European Observatory on Taxation, based in Paris and financed by the European Union.
The minimum global tax rate will be applied on the profits companies earn outside their home countries. Governments will still be able to levy an income tax on companies' domestic . . .