G20 Countries Reached an Agreement on the Global Tax

G20 countries have reached an agreement on the global tax. Minister Elvan also evaluated the issue with his post on Twitter.

Finance ministers and Central Bank governors of the G20 countries held their third meeting in Venice, hosted by the G20 Term President, Italy. Host Minister Franco and the Governor of the Bank of Italy Ignazio Visco announced the results of their meeting, which lasted for 2 days, with a press conference they held. Minister Franco explained that he and his counterparts reached a very important agreement on the payment of taxes by multinational companies where they operate and make a profit. Franco said, "The G20 agreement is an important achievement, it will contribute to the stability of the international tax system for years to come." The Italian Minister explained that they intend to put into effect the mechanisms they have agreed upon until the G20 Leaders' Summit to be held at the end of October. Stating that there are 7 countries that have not signed the international tax reform agreement at the Organization for Economic Cooperation and Development (OECD) level, and that 3 of them (Hungary, Ireland, Estonia) are members of the European Union, Franco said, "All G20 countries have agreed on this and our aim is to reach an agreement among all countries. An agreement between countries that represent 90 percent of the world's gross domestic product puts some pressure on other countries to join the collective effort. Every country must accept the compromise."