Skip to comments.G7: Rich nations confident on reaching tech tax deal
Posted on 06/05/2021 3:54:40 AM PDT by Oldeconomybuyer
Finance ministers from the G7 group of leading economies are confident of striking a deal on taxing multinational companies at their meeting in London.
The agreement is expected to include a global minimum rate of corporation tax.
It would target tech giants such as Amazon and Microsoft.
German finance minister Olaf Scholz said the deal would "change the world".
He said a 15% rate would help pay back debts that have built up during the pandemic - and that he was "absolutely confident" there would be an agreement.
"If we agree on the minimum taxation for corporates, this will help to go out of this race to the bottom we see with taxes today," he told the BBC.
"And this will help the countries we live in to finance their tasks, and - especially after Covid crisis and all the money we spent - to defend the health of the people, and to defend the economy."
French finance minister Bruno le Maire urged Ireland, which has one of the lowest corporate tax rates in the European Union, at 12.5%, to get "on board".
(Excerpt) Read more at bbc.com ...
Exactly-corporations don’t pay taxes, and this would be taxation without representation.
You’d have to be a moron to not understand that.
The publik skrewl system here in the US has ensured there are plenty of those.
Whatever deal is struck, it will hurt the US worst. The EU views the US as a competitor, a stupid one at that. They want to hobble the US and Biden will go along with these multilateral, globalist restrictions. America last.
What does Germany care if Americans have to pay higher for them taxing these companies.
Our overlords are clueless or just think we are stupid. It’s sleight of hand that gives political cover. Taxing a corporation taxes the consumer.
Greedy cynical immoral bast***S
Hehehe thanks for the EU where a single member (Ireland or Hungary) can torpedo this entire deal and hence it won’t “change the world” boo hoo.
Funny how Sleepy came in at a whopping 28% to appease his useful idiot leftist base and may end up stuck with PDJT 21% rate for corporates. Although I think the tax rate for Big Tech and Fake News companies really ought to be around 99%.
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