CORPORATIONS DON'T PAY TAXES!!! customers and shareholders on the otherhand...
Posted on 06/05/2021 5:36:07 AM PDT by deport
The world's richest countries signed a landmark global agreement Saturday to confront tax avoidance and make sure that giant tech companies pay their fair share, Britain's treasury chief said.
"I'm delighted to announce that G-7 finance ministers today, after years of discussions, have reached a historic agreement to reform the global tax system to make it fit for the global digital age and crucially to make sure that it's fair, so that the right companies pay the right tax in the right places," Sunak said in a video message posted on Twitter.
The meeting of finance ministers came ahead of an annual summit of G-7 leaders scheduled for June 11-13 in Carbis Bay, Cornwall. The U.K. is hosting both sets of meetings because it holds the group's rotating presidency.
(Excerpt) Read more at cbsnews.com ...
It just takes one or two countries to say kiss off and their economies will flourish as companies move operations there.
In many industries that’s true, but in digital commerce it is easy for a government to just block the content of a stupid platform like Twitter or Facebook.
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And how binding are these agreements?
And Biden is still part of G-20.
Another verification that it's all about money and the USA is the biggest sucker.
Don’t get my hopes up
The nice thing about this is unlike some comany getting taxed more and then me, the customer, winds up paying that tax ultimately, I don’t do or pay for social media stuff or other big tech things.
CORPORATIONS DON'T PAY TAXES!!! customers and shareholders on the otherhand...
I personally think this agreement could be a step in the right direction, provided that they don’t muck it up. As much as I hate the effort to take the unsustainable California boom/bust empty virtue-signalling unkind “niceness” worldwide, the fact remains that these are American companies. There is just too much we don’t know I think.
In the case of social media, who is the paying customer?
Nobody on the platforms below pay for them, do they?
—Google
-—Youtube
—Facebook
—Twitter
—Instagram
—Tiktok
Are these the only Tech giants, though?
What about:
—Apple
—Microsoft
—Samsung
—Oracle
“The G-7 ministers agreed in principle to a global minimum tax rate of 15% for multinational companies in each country they operate in.”
Does this include China and India or do they just want the US to cough up the $$$.
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Yeah, fair share, good one.
they all have stockholders that get taxed on the sales of the stock when sold
and yes they are taxed on that already
but most companies don’t have the ability to hoard cash like apple etc., and if they want to tax that, i’m in as it’s just sitting there
If any large corporation were taxed & actually paid those taxes, then that would mean those taxes would not be figured into the consumer prices & I don’t believe that is hardly ever the case. It’s part of a corporation’s cost of doing business & can be written off. How is a consumer to write it off? Not a level playing field out there by any means.
but nothing stopping them raising their price either
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