Year XXXVII, Number 1, March 2024

On January 1, 2024, the Global Minimum Tax (GMT) came into force. The GMT, proposed by the OECD in 2021 and signed by 142 states, with the objective to introduce a minimum rate of 15% to be applied to multi-national or national companies with a turnover of more than € 750 million, aims to counteract the phenomenon of fiscal dumping that some States implement when they propose a preferential taxation to induce multinational companies to choose to produce in or transfer their headquarters to their own country. The states that have ratified the GMT will be able to apply it, obtaining useful resources (the OECD estimates up to € 200 billion in additional revenues worldwide). Unlike those who believe that the GMT is difficult to apply, The Federalist Debate underlines its importance due to its global character, which places it in the wake of initiatives aimed at creating global rules and norms to combat the "far west" situation in the global economy, in this case the unfair tax competition between states, but hopes that this initiative will be followed by others at the global level, in particular with regard to the fight against environmental and social dumping, which hinders the fight against climate change, and against the social and between-states inequalities (g.b.)