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EU adopts global minimum 15% tax on big business

bbc.com

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Re: EU adopts global minimum 15% tax on big business

#11

Post by jacooper »

jiveturkey wrote: post #9
jacooper wrote: post #8

> The landmark deal between nearly 140 countries aims to stop governments racing to cut taxes in a bid to attract companies. > It was praised by US Treasury Secretary Janet Yellen as "an historic agreement which helps even the playing field". This is a global goal, not just an EU Law.

ok but the story here is about the EU adoption of such. > The US has not taken steps to adopt the rules so far, despite Ms Yellen's championship of the plan.

I know, but the title makes it seem like an EU campaign.

Re: EU adopts global minimum 15% tax on big business

#12

Post by consumer451 »

poszlem wrote: post #4

> "Today the European Union has taken a crucial step towards tax fairness and social justice," EU economy commissioner Paolo Gentiloni said. There is a saying in Poland: "The difference between > and > is the same as the difference between > and >. I wish we would actually listen to the those countries, when it comes to topics like socialism and communism. Though I suspect the Western European countries need to taste…

I am sitting in Poland, grew up under the thumb of the Soviets, but I don’t see the connection to a global minimum tax.

Are you saying it’s like communism?

Re: EU adopts global minimum 15% tax on big business

#13

Post by jiveturkey »

jacooper wrote: post #3
mytailorisrich wrote: post #2

> European leaders praised the decision, with Germany's Chancellor Olaf Scholz describing it as a "project close to my heart". French President Emmanuel Macron said the country had been pushing the idea for more than four years. Of course countries with high taxes are all for raising taxes in countries where they are lower! Now, unfortunately the article does not mention the interesting bit, which is that EU countrie…

More money for the government, why would they refuse ?

It severely reduces their ability to attract future business, as well as the likelihood that companies will continue to remain headquartered there. If you go there for tax benefits and those tax benefits go away, how likely are you to continue to bother with such complex structures?

Re: EU adopts global minimum 15% tax on big business

#14

Post by Lionga »

oliv__ wrote: post #6

"The US has not taken steps to adopt the rules so far, despite Ms Yellen's championship of the plan." Lol, obviously. Cheering them on as they shoot themselves in the foot

US LLCs are pass trough entities and the solution of choice for digital nomads to completely avoid paying any taxes. US is still the best tax avoidance haven for most people. EU does not care about good laws they care about good headlines for the news not matter how shitty the things they do are.

Re: EU adopts global minimum 15% tax on big business

#16

Post by manmal »

poszlem wrote: post #4

> "Today the European Union has taken a crucial step towards tax fairness and social justice," EU economy commissioner Paolo Gentiloni said. There is a saying in Poland: "The difference between > and > is the same as the difference between > and >. I wish we would actually listen to the those countries, when it comes to topics like socialism and communism. Though I suspect the Western European countries need to taste…

What are you criticizing, the wording or the fact that big corps are being taxed?

Re: EU adopts global minimum 15% tax on big business

#17

Post by gumby »

mytailorisrich wrote: post #2

> European leaders praised the decision, with Germany's Chancellor Olaf Scholz describing it as a "project close to my heart". French President Emmanuel Macron said the country had been pushing the idea for more than four years. Of course countries with high taxes are all for raising taxes in countries where they are lower! Now, unfortunately the article does not mention the interesting bit, which is that EU countrie…

They can use the EU as an excuse to raise taxes without taking the blame. Most people have no idea how the EU works and don't realize that that rule would not have been put in place unless their own government had supported it. That's what unanimity means.

Also at the end of the day most EU laws are aquiescence rules: if you have a specification for cucumbers it must be like this. But if you don't have such a spec (and producers in other countries aren't prevented from doing business with you) then you don't need to put the rule into place. After all, every EU "law" is actually a description which has be be implemented in each country by its legislature.

Re: EU adopts global minimum 15% tax on big business

#18

Post by anm89 »

jacooper wrote: post #3
mytailorisrich wrote: post #2

> European leaders praised the decision, with Germany's Chancellor Olaf Scholz describing it as a "project close to my heart". French President Emmanuel Macron said the country had been pushing the idea for more than four years. Of course countries with high taxes are all for raising taxes in countries where they are lower! Now, unfortunately the article does not mention the interesting bit, which is that EU countrie…

More money for the government, why would they refuse ?

This is empirically not always true. Higher taxes can lead to lower tax revenues if it reduces the size of the pie when business go to tax friendly jurisdictions.

This can also work with income taxes. For example if you set income tax at 100%, you'd get 0 revenue probably because no one would work. This effect happens at values below 100%

Re: EU adopts global minimum 15% tax on big business

#19

Post by dahfizz »

oliv__ wrote: post #6

"The US has not taken steps to adopt the rules so far, despite Ms Yellen's championship of the plan." Lol, obviously. Cheering them on as they shoot themselves in the foot

Doesn't America already have a corporate tax rate well above 15%? What would we have to do to "adopt" these rules?

Re: EU adopts global minimum 15% tax on big business

#20

Post by jiveturkey »

jacooper wrote: post #11
jiveturkey wrote: post #9

Earlier quoted context omitted.

ok but the story here is about the EU adoption of such. > The US has not taken steps to adopt the rules so far, despite Ms Yellen's championship of the plan.

I know, but the title makes it seem like an EU campaign.

I don't see how. 'global' is right in the headline.
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