Ireland joins OECD International Tax agreement
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Re: Ireland joins OECD International Tax agreement
#2> Global minimum effective corporation tax rate of 15% for multinationals with revenues in excess of €750 million
> No change to the 12.5% rate for businesses with revenues below €750 million
Re: Ireland joins OECD International Tax agreement
#3> Global minimum effective corporation tax rate of 15% for multinationals with revenues in excess of €750 million > No change to the 12.5% rate for businesses with revenues below €750 million
Hopefully 15% is for ( Total - 750 )
Re: Ireland joins OECD International Tax agreement
#4Ireland is about to discover how unattractive it is as a locale for multinational HQs when the playing field is somewhat more level. And I'm in favor of the move as a middle class US taxpayer and a small business owner who pays through the nose, but this is a quite obvious self-own in the long run for them, much for the same reason why introducing a wealth tax was a self-own for France. Big Money is mobile, sophisticated, and quick on its feet.
Re: Ireland joins OECD International Tax agreement
#5[deleted]
Re: Ireland joins OECD International Tax agreement
#6I've always been baffled as to how this is seen as a multi-national issue. The US could always implement unilateral minimum VAT and profit[3] taxes on corporations forcing them to effectively pay whatever proportion the US demands to continue doing business in the world's largest consumer market. Just because you're only paying 3%[1] profit[3] tax in Bermuda doesn't mean you can necessarily skate around the remaining 12% when doing business in the US - the US could just pocket that additional 12% if nobody else wanted it. Implement a policy like that and the competitive tax advantage of havens disappears overnight and all this BS disappears.
We[2] have tax loopholes because we want to continue to have tax loopholes.
1. BS example I'm unfamiliar with the actual numbers.
2. Where "We" is lawmakers or maybe society as a whole as weighted by political power.
3. Edited: s/revenue/profit/
Re: Ireland joins OECD International Tax agreement
#7Ireland is about to discover how unattractive it is as a locale for multinational HQs when the playing field is somewhat more level. And I'm in favor of the move as a middle class US taxpayer and a small business owner who pays through the nose, but this is a quite obvious self-own in the long run for them, much for the same reason why introducing a wealth tax was a self-own for France. Big Money is mobile, sophistic…
Sure - but it's the process of making the world a better place. The more these tax havens get shut down the fewer (and riskier) places that corporations have to shelter their revenue.
Re: Ireland joins OECD International Tax agreement
#8Ireland is about to discover how unattractive it is as a locale for multinational HQs when the playing field is somewhat more level. And I'm in favor of the move as a middle class US taxpayer and a small business owner who pays through the nose, but this is a quite obvious self-own in the long run for them, much for the same reason why introducing a wealth tax was a self-own for France. Big Money is mobile, sophistic…
And big money can stop moving if countries stop giving them tax breaks.
Re: Ireland joins OECD International Tax agreement
#9I've always been baffled as to how this is seen as a multi-national issue. The US could always implement unilateral minimum VAT and profit[3] taxes on corporations forcing them to effectively pay whatever proportion the US demands to continue doing business in the world's largest consumer market. Just because you're only paying 3%[1] profit[3] tax in Bermuda doesn't mean you can necessarily skate around the remaining…
Governments want to tax profits rather than revenues. A tax on revenues would kill a lot of high growth businesses.
Re: Ireland joins OECD International Tax agreement
#10> Global minimum effective corporation tax rate of 15% for multinationals with revenues in excess of €750 million > No change to the 12.5% rate for businesses with revenues below €750 million
Hopefully 15% is for ( Total - 750 )
Total and $750M aren't even the same unit. The former is profit, while the latter is revenue.