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G7 endorses global minimum corporate tax rate
Posted by: pdq
Date: June 05, 2021 12:30PM
Well, that didn’t take long!

Quote

The Group of Seven wealthy democracies agreed Saturday to support a global minimum corporate tax rate of at least 15% in order to deter multinational companies from avoiding taxes by stashing profits in low-rate countries.

Sounds fine to me.

Of course, it’s those low-rate countries that are selling themselves cheaply, trying to live off the scraps - they’re going to be a tougher group to convince. It seems possible that G7 countries could try to strong-arm their domestic companies into compliance, but conservatives would scream bloody murder (which I think is what they consider taxes to be, more or less).

Also, I suppose Amazon and Google could move their corporate headquarters to Bermuda (or Ireland)...
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Re: G7 endorses global minimum corporate tax rate
Posted by: sekker
Date: June 06, 2021 06:32PM
The US has only $100s of billions to win if this happens.

Ireland could lost tons of corporate tax cash.
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