Its member countries G7 They want to exclude American multinationals from the global minimum tax because they will already be taxed in USAaccording to a statement released yesterday by the Canadian Treasury.

It is suggested by “recently proposed changes to the US tax regime”, which is included in a draft law on US President Donald Trump’s budgetary law, which continues to be in the stadium in the Senate in the announcement.

Instead of the global minimum tax, American multinationals will be subject to a “side-by-side” system according to the text.

This will “facilitate other advances in order to stabilize the international tax system” and “defend the tax sovereignty of all countries,” the G7 announcement continues.

Nearly 140 countries signed an agreement on the taxation of multinational companies in 2021, which were negotiated under the auspices of the Organization for Economic Cooperation and Development (OECD).

The agreement, strongly criticized by US President Donald Trump, included two “pillars”, with the latter setting the global minimum tax rate of 15% for multinational companies.

It is up to the OECD to decide whether or not, US multinational companies will be excluded from paying these taxes.

“We hope to come up with a solution soon to be accepted and applicable to everyone,” the G7 statement said.

US Finance Minister Scott Bessed assured Thursday that an agreement on this purpose, which “defends US interests”, was to be closed immediately with other G7 countries.

Mr Bessend also asked members of the US Parliament to withdraw from President Trump’s “big and beautiful law”, still under consideration in Congress, his arrangement that would allow his government to impose taxes on businesses whose owners are not investigated by Americans.

This clause, which was intended to be able to impose tax retaliation, had raised many concerns, especially for preventing foreign companies from investing in the US.