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UN Panel Recommends A Global Corporate Income Tax To Cut Down On Tax Avoidance
Forbes ^ | Feb 25, 2021, | Rachel Sandler

Posted on 05/11/2021 2:57:39 PM PDT by george76

A high-level U.N. panel .. made a series of sweeping recommendations aimed at reforming the global financial system, which includes the implementation of an international corporate tax rate.

The High-Level Panel for International Financial Accountability, Transparency and Integrity for Achieving the 2030 Agenda (FACTI) said a 20% to 30% global corporate tax on profits would “help limit incentives against profit shifting, tax competition and a race to the bottom.”

The panel recommends the creation of a body that collects and disseminates data about corporate profits, where the assets of multinational corporations are located, as well as which entities own them, calling such data the “bare minimum” necessary to even begin addressing tax avoidance and evasion.

The minimum tax, the panel notes, should be designed to incentivize ”sustainable development investment while retaining sufficiently high effective taxation.”

The Facti panel comprises former world leaders, central bank governors, business and civil society heads and academics.

Tax avoidance has been a persistent global problem, as multinational companies continue to exploit loopholes or take advantage of tax havens around the world. Annually, governments lose between $500 billion and $650 billion in revenue from tax avoidance

(Excerpt) Read more at forbes.com ...


TOPICS: Business/Economy; Crime/Corruption; Government; News/Current Events; Politics/Elections
KEYWORDS: agenda21; buildbackbetter; communism; globaltax; greatreset; incometax; reset; tax; taxation; taxavoidance; taxes; taxrate; toobintax; tyranny; un; unagenda2030; unagenda21; unagenda212030; unitednations; unitedthieves
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To: george76
Tax avoidance has been a persistent global problem

************* Wasteful and unnecessary government spending is the persistent problem.

21 posted on 05/11/2021 3:12:43 PM PDT by Starboard
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To: george76

I propose the following for the benefit of technology and education:

Government Employee Tax Benefit for Education and New Technology—GETBENT.

ALL the worlds politicians, as government employees, get levied GETBENT.

The tax rate will be 99% over $200,000 total income annually, or anally, as the case may be.


22 posted on 05/11/2021 3:14:10 PM PDT by Alas Babylon! ("You, the American people, are my only special interest." --President Donald J. Trump)
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To: Nateman

“They make tax avoidance sound like a bad thing.”

Gooberments don’t seem to create much Wealth.


23 posted on 05/11/2021 3:15:09 PM PDT by Paladin2 (.)
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To: george76
These Globalist criminals want taxes for you, not them. They want taxes to keep climbers from kicking them out of their positions of power.

There's a reason why the Founder Fathers made taxes on income unconstitutional.

24 posted on 05/11/2021 3:18:46 PM PDT by T.B. Yoits
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To: george76

please add me to ping...thx


25 posted on 05/11/2021 3:19:10 PM PDT by mykroar (God speed, President Trump)
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To: Alas Babylon!

That’s one tax I get support!


26 posted on 05/11/2021 3:24:57 PM PDT by piytar (Do NOT forget Ashli Babbit!)
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To: george76

No taxation without representation! Who exactly does the UN represent?


27 posted on 05/11/2021 3:28:21 PM PDT by cockroach_magoo
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To: george76

China launches Wuhan flu on the world.

Coordinated international CEOs immediately step down to to work on “other projects” including Disney’s Bob Iger, Bill Gates and now Bezos.

Nations promptly shut down and in prison their populace and pay them not to work for a year.

Now the UN wants global taxation authority.

This is all a planned totalitarian overthrow.


28 posted on 05/11/2021 3:29:59 PM PDT by Skywise
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To: george76

The world tax is the way to world government. I am in favor of world government but only if it comes from America taking over the rest of the world


29 posted on 05/11/2021 3:30:11 PM PDT by webheart (I already had COVID disease and 2 vaccine shots Can I take the mask off now?)
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To: george76

I recommend cutting down on the UN. In fact, eliminate it completely. Wilson’s Folly should end. They do very little other than spend money on corruption.


30 posted on 05/11/2021 3:30:17 PM PDT by Richard Axtell ( NO*)
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To: 9YearLurker
"It’s not tax avoidance they are afraid of, it is tax competition—and of course they’re globalists, so they want national sovereignty to be superseded by new global powers for them."

I agree. Just like the Democrats' "pro-family" policies, this seeming effort to eliminate "tax avoidance," this purported effort to stand up to the corporations, is actually intended to further the globalists' goal of weakening and eventually eliminating national sovereignty.
31 posted on 05/11/2021 3:32:25 PM PDT by Steve_Seattle
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To: george76

This is something to fight against since it is designed to ease us into a one world government. Why would all corporations in the whole world want to give in to a tax that is not even for all? Do not be fooled by the U N. There is no reason for a whole world tax system just because a few men decide it would be good. Balk at this proposal! Do not get sucked in. Resist!


32 posted on 05/11/2021 3:34:18 PM PDT by maxwellsmart_agent
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To: george76

With respect to removing corporate tax sheltering and avoidances on a multi national scale, shouldn’t that also apply to the world’s wealthy and politicians alike since most have over seas bank accounts in order to avoid taxes and to stash thier ill-gotten monies?


33 posted on 05/11/2021 3:34:48 PM PDT by drypowder
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To: george76

“Annually, governments lose between $500 billion and $650 billion in revenue from tax avoidance”

Another way to look at it is world consumers saved $500-650B that wasn’t confiscated by greedy governments.


34 posted on 05/11/2021 3:36:57 PM PDT by plain talk
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To: RatRipper

This is a great plan—for the corporations.

They can just bribe a few officials and avoid taxes worldwide!


35 posted on 05/11/2021 3:40:23 PM PDT by cgbg (A kleptocracy--if they can keep it. Think of it as the Cantillon Effect in action.)
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To: BenLurkin

Under Biden, they will embrace this.


36 posted on 05/11/2021 3:40:59 PM PDT by hsmomx3
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To: Steve_Seattle

Let’s hear it for the world tax!!!!!!!!!


37 posted on 05/11/2021 3:43:31 PM PDT by shanover (...To disarm the people is the best and most effectual way to enslave them.-S.Adams)
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To: george76

Everything politicians do is based on getting their hands on more of our hard earned money.


38 posted on 05/11/2021 3:44:01 PM PDT by Vlad The Inhaler (Terror is a political weapon, and its purpose is to force capitulation. — Adolf Hitler,)
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To: caww

yep


39 posted on 05/11/2021 3:50:36 PM PDT by Irenic ( )
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To: BenLurkin

although you were not real clear, you had it exactly right when you said WE are taxed enough already. People pay taxes, corporations do not. Apparently the UN is a bit more clueless than I thought. Not to mention labeling, Corporations as tax evaders. Just who made the UN boss?


40 posted on 05/11/2021 3:51:06 PM PDT by wita (Always and forever, under oath in defense of Life, Liberty and the pursuit of Happiness.)
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