521–530 of 931 posts
That is competition. Governments, corporations, and every other entity on earth should work that way.
If a global entity wants a better deal, they should be able to get one.
This is nothing more than universal trade restriction. Trade restriction that is designed to keep global powers in power and keep the little guy scraping by.
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Just tax the revenue in the country where the money changed hands. (The client's home) That's the taxable event. So, I think, for your case, Britain (UK)
How did the money change hands in Britain? The British person typed his CC number into a web form that routed to a server in the Cayman Islands that charged a bank in France. That bank in France will then demand repayment at the end of the month from the guy in Britain.
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> Probably the best solution is a minimum tax worldwide. Wouldn't that make companies pay taxes in countries they are based in (as opposed to where they make money)? Anyway this could be the push that the EU needed to start their own Silicon Valley.
Do you really think something like the SV can be created top-down?
I would imagine that in the ideal situation a government would tax some percentage of GDP which would spread the tax burden across the economy evenly, but making that work seems impossible.
Finally a politician (Joe Biden) is fixing one of the major area of the rigged economy. If workers auto-deposited their paycheck overseas and didn't pay taxes, they would be in jail. If small businesses did fraud that their profits were over seas, they would be in jail. Our politicians have been selling us out, as big corporations did this. Big corporations are doing fraud at saying their profits are happening in the…
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> If you’re going down this route, many will argue that all forms of income tax are equally “wrong”. I frequently come to a conclusion personal income tax should be abolished as it punishes work. CIT, VAT, capital gains and inheritance taxes should be enough to sustain a budget. These are all unrelated to performed work.
I frequently come to the conclusion that personal grocery bills should be free, as charging for food punishes existing.
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There isn't a public "this" yet, so IDK. Also, Bermuda is unlikely to agree to this. It sounds like the primary purpose here is residency definitions, which could mean that the US would be obligated or entitled to consider the Bermuda company american for tax purposes. IRL, that Bermuda company is likely to be a shell company, receiving payment from a single client (EG msft) so that the parent company can book it as…
That's good information. "Also, Bermuda is unlikely to agree to this." Will it matter whether or not Bermuda agrees to it? It seems like their buy-in will be irrelevant, since if the company wants to keep serving US customers then they'll have to go along with the rules the US is setting up?
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> Google Ireland charges Google USA a license fee of 100% of the revenue they made. This can be solved by placing a duty on large cross border IP fee transactions. US is the country that's opposed to putting tariff on IP
There are lots of legitimate high-value cross border IP transfers, and since the US creates a lot of valuable IP it makes perfect sense that they’d oppose this.
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> Google Ireland charges Google USA a license fee of 100% of the revenue they made. This can be solved by placing a duty on large cross border IP fee transactions. US is the country that's opposed to putting tariff on IP
There are lots of legitimate high-value cross border IP transfers, and since the US creates a lot of valuable IP it makes perfect sense that they’d oppose this.
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What you’re proposing is a tax on revenue, rather than a tax on profits. That is what a sales tax is.
If a tax on revenue was used the outcome would be companies would try to increase profits but reduce revenue so high margin products would be the goal which would mean higher prices / fewer sales. I think the solution should be market based. Whatever rate google US gets from google Ireland should be available to any company and google Ireland should be forced to sell any services/ip to any company who requests it at…