tomder55
Jan 2, 2024, 05:28 AM
I referenced it here .
Yertle has to go (askmehelpdesk.com) (https://www.askmehelpdesk.com/showthread.php?t=848589&p=3882815#post3882815)
2021 140 nations including the US agreed to a 15% tax on big corporations .This is supposedly to reduce tax competition between nations. Rich countries like the US and Great Britain don't like the idea that smaller economies like Ireland can set tax rates favorable to corporations thus enticing them to set up shop there .
Jason Ward, principal analyst at the Centre for International Corporate Tax Accountability and Research pressure group, praised the “super smart design” of the reform. “It will reduce incentives from companies to use tax havens and incentives for countries to be tax havens,” he said, adding that it puts “a serious brake on what was a race to the bottom”.
Global minimum tax on multinationals goes live to raise up to €200bn – The Irish Times (https://www.irishtimes.com/business/2024/01/01/global-minimum-tax-on-multinationals-goes-live-to-raise-up-to-200bn/?utm_source=join1440&utm_medium=email&utm_placement=newsletter)
It took a couple of years to iron out the details . But this year many of the signees are implementing it .
The first wave of jurisdictions implementing the global minimum tax from January include the EU, UK, Norway, Australia, South Korea, Japan and Canada. The rules will apply to multinational companies with an annual turnover of more than €750 million.
Several countries long seen by some as havens by multinationals will take part, including Ireland, Luxembourg, the Netherlands, Switzerland and Barbados, which previously had a corporate tax rate of 5.5 per cent.
The US has not done so yet . So the obvious question is How is Build Back Brandon being financed . And if you think China will then I have a great wall to sell you.
Ok that is rhetorical because we know lack of $$$$ has never stemmed the flow of red ink .
Meanwhile there are complaints that some loopholes adopted since the agreement means less real revenue for nations . The rich are not being fleeced enough .
Global minimum tax to fall short of expectations, researchers warn – Euractiv (https://www.euractiv.com/section/economy-jobs/news/global-minimum-tax-to-fall-short-of-expectations-researchers-warn/)
Yertle has to go (askmehelpdesk.com) (https://www.askmehelpdesk.com/showthread.php?t=848589&p=3882815#post3882815)
2021 140 nations including the US agreed to a 15% tax on big corporations .This is supposedly to reduce tax competition between nations. Rich countries like the US and Great Britain don't like the idea that smaller economies like Ireland can set tax rates favorable to corporations thus enticing them to set up shop there .
Jason Ward, principal analyst at the Centre for International Corporate Tax Accountability and Research pressure group, praised the “super smart design” of the reform. “It will reduce incentives from companies to use tax havens and incentives for countries to be tax havens,” he said, adding that it puts “a serious brake on what was a race to the bottom”.
Global minimum tax on multinationals goes live to raise up to €200bn – The Irish Times (https://www.irishtimes.com/business/2024/01/01/global-minimum-tax-on-multinationals-goes-live-to-raise-up-to-200bn/?utm_source=join1440&utm_medium=email&utm_placement=newsletter)
It took a couple of years to iron out the details . But this year many of the signees are implementing it .
The first wave of jurisdictions implementing the global minimum tax from January include the EU, UK, Norway, Australia, South Korea, Japan and Canada. The rules will apply to multinational companies with an annual turnover of more than €750 million.
Several countries long seen by some as havens by multinationals will take part, including Ireland, Luxembourg, the Netherlands, Switzerland and Barbados, which previously had a corporate tax rate of 5.5 per cent.
The US has not done so yet . So the obvious question is How is Build Back Brandon being financed . And if you think China will then I have a great wall to sell you.
Ok that is rhetorical because we know lack of $$$$ has never stemmed the flow of red ink .
Meanwhile there are complaints that some loopholes adopted since the agreement means less real revenue for nations . The rich are not being fleeced enough .
Global minimum tax to fall short of expectations, researchers warn – Euractiv (https://www.euractiv.com/section/economy-jobs/news/global-minimum-tax-to-fall-short-of-expectations-researchers-warn/)