The G20 will agree on how to tax digital companies: a. Herrera

The Minister of Finance and Public Credit, Arturo Herrera Gutiérrez, is in Venice, Italy, to participate in the meetings of finance ministers and central bank governors, where he will give his position on the appropriate way to tax digital companies and on how to promote global. Growth after the economic impact of the COVID-19 pandemic.

In a video broadcast on his Twitter account, Herrera explained that the economic recovery is linked to the progress of vaccination against Covid-19, which is progressing properly in Mexico; However, some regions of the world do not have the same dynamic.

“The G20 meets two or three times a year, but this is one of the most important (meetings) that we will have in recent times … to come to an agreement on global minimum taxes, with the idea that those multinationals that avoid paying taxes today will not be able to Do it.. “Another agreement is in the works, which we hope to reach, and is about how to properly tax digital businesses,” Herrera said.

world recovery

In what will be the last public appearance of Herrera Gutierrez as Treasury Secretary, the official said another important point in the meeting, which begins today and ends tomorrow, will be how to encourage the global economic recovery.

“(Recovery) is very much related to the vaccination process. Although things are going well in our country and in some other countries, we have found that in the world there is an asymmetric development of this, mainly in sub-Saharan Africa, with very few of vaccines,” he explained.

As a third point, Herrera noted that the issue of SDRs will be discussed, when countries have reserves within the IMF and seek to use them to address balance of payments problems, a mechanism that Mexico will not use.

“We don’t need it, but it’s important in a crisis like the one we’re going through right now, that countries that if they need it can get to it, we’re waiting on Saturday to come to an agreement on it, which will allow low- and middle-income countries,” the official said. You get financing when you need it most.

The finance minister said that the G20 is used to meeting different personalities from the global economy. Thus, Herrera took the opportunity to meet with the Governor of the Central Bank of Italy, Ignazio Visco, as well as with Lawrence H. Summers, former Secretary of the Treasury of the United States; Tharman Shanmugaratnam, former Singaporean finance minister and Ngozi Okonjo-Iweala, head of the World Trade Organization.

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