Global Minimum Corporate Tax UPDATE: G7 agree
- Thread starter Silvanus
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UPDATE: The G7 have agreed to it (at a 15% rate).
Practically, It still needs the go-ahead of the G20 and the OECD. But the G7 comprise the largest economies in the G20, so the outcome of that it likely to be the same. And the OECD works by consensus (rather than unanimity).
This is probably the most significant obstacle overcome, not least because British intransigence has been overcome.
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www.reuters.com
Practically, It still needs the go-ahead of the G20 and the OECD. But the G7 comprise the largest economies in the G20, so the outcome of that it likely to be the same. And the OECD works by consensus (rather than unanimity).
This is probably the most significant obstacle overcome, not least because British intransigence has been overcome.
Tech giants and tax havens targeted by historic G7 deal
The United States, Britain and other large, rich nations reached a landmark deal on Saturday to squeeze more money out of multinational companies such as Amazon and Google and reduce their incentive to shift profits to low-tax offshore havens.
That's what the 1% keep threatening to do, but the reality is far more complicated. There was a big to-do in Pennsylvania when the fracking companies threatened to leave the state over corporate taxes only to back down once the governor made clear Penn is where the resources are, so if you want 'em you have to do business with the state.
Aaand ireland is trying to block it. Fuck my country. Can't wait to get gone. Sure I'll probably only earn enough to get by in other countries, same as here,but at least I'd be living in a country that isn't ireland. Woo, half my paycheck a month just to get a one bedroom apartment to live in a country where summer means "room temperature but outside." And I know everyone always chimes in with "the grass is always greener" but there's a reason ireland is the youth suicide capital of Europe. I should have left back when my generation were hanging themselves or fucking off to Australia in record numbers.
It was always going to be the way that countries that benefit hugely from corporate tax avoidance would move to block it. I'm sure some quiet words with senior politicians or backhanders are enough to motivate compliance if they don't see sense immediately.
Of course, the response from the G7 should be to threaten some form retaliatory action against Ireland. But then, I suspect at some level they don't actually care: they're just happy enough to be seen to have tried.
I think they actually do care. It makes voters happy, doesn't hurt them much and provides more taxes for policies. There is a god chance it will eventually happen.
Well, since you mentioned Amazon and other major logistics companies and service providers...
Secret U.S. Missile Aims to Kill Only Terrorists, Not Nearby Civilians
The U.S. has developed a specially designed, secret missile for pinpoint airstrikes that kill terrorist leaders with no explosion, drastically reducing damage and minimizing the chances of civilian casualties, multiple current and former U.S. officials said.
www.wsj.com
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That is one of the most ridiculous things I've seen that is real. The knives are just the chef's kiss.Well, since you mentioned Amazon and other major logistics companies and service providers...
Secret U.S. Missile Aims to Kill Only Terrorists, Not Nearby Civilians
The U.S. has developed a specially designed, secret missile for pinpoint airstrikes that kill terrorist leaders with no explosion, drastically reducing damage and minimizing the chances of civilian casualties, multiple current and former U.S. officials said.
Guillotines made to order, global same-day delivery! Just perfect for those lofty few who love to jet set around international waters in multi-million-dollar yachts.