Posted on 10/30/2021 9:47:48 AM PDT by E. Pluribus Unum
Leaders of the world’s biggest economies endorsed a deal on corporate taxation that they hope will safeguard their future revenues and offer stability to businesses that operate internationally. The main beneficiaries are likely to be rich countries, including the U.S.
In the opening session of their summit in Rome, leaders of the Group of 20 major economies gave their blessing to a global pact that has been more than a decade in the making, according to officials.
The agreement comes in two parts: It sets a minimum tax rate of 15% on the profits of large businesses and will raise additional revenue for most governments; and it shifts tax revenues to where companies sell to consumers, rather than where they are based.
Rich-country governments are set to be the main winners from both parts of the deal. According to one analysis, additional revenues for the U.S. from the minimum tax will be 15 times those of China. Another report estimates that the total boost to 52 developing countries from the new way of allocating tax revenues would be about $1.5 billion to $2 billion a year, a fraction of the deal’s benefits for rich countries.
The G-20’s aim is to limit the ability of businesses to lower their tax bills by recording their profits in low-tax countries such as Ireland. That became easier with globalization, as businesses were able to relocate production across many different countries, and with the rise of digital technology, which allowed businesses to make sales in countries where they had little physical presence.
The deal aims to end what governments call a race to the bottom on corporate tax bills.
(Excerpt) Read more at msn.com ...
How is it economies have leaders?
And how is it these so-called “leaders” take dictatorial powers upon themselves, and do it in concert?
Leaders of the Group of 20 major economies gave their blessing to a ‘Global Pact’ .....sounds very New World Orderish. Going after revenues of course.
Half a** backwards. Companies will invest less if they have to pay that tax anyways.
The mafia also said “give us money each week and we will see to it that you are protected. Don’t and theres no telling what could happen “
Exactly. I was just thinking that the companies woild be more secure if they didn’t have to pay an extra tax a ove znd beyond what is a,ready hurting them financially via estab,ished previous taxes
“How is it economies have leaders?”
Indeed. And when these leaders act together, does that make them followers? Of who?
I’d like to solve the puzzle.
And of all these so called leaders....not ONE has actually run a business.
They’re chess board is played way above what we ever really see or know as it’s already settled among them as they march to the drumbeat of the World Wide Economy they intend to fully control. And while this is happening they’ll lower the number of their member states to a precious few by and by........G-20 G-10 down to G-7.
“will safeguard their future revenues and offer stability to businesses that operate internationally”
ALL about the former, not about the latter.
Why should they? They’re in the ‘business’ of reaping where they have not sowed. The Climate Change agenda is just the means of how they will do that.
I’d like to know how these socialists/communists are going to enforce such a world-wide tax.
Great Reset my arse. Great Global Uprising is more like it.
This will kill industries. Why work when you can live off your BitCoin and gubamint subsidies; ie, OPM.
Let the big businesses carry the load,, until they collapse.. and then seize everything.
This scares the hell out of me. It may start at 15% but we all know that is going to creep up if this nightmare ever gets made into international law!
“a deal on corporate taxation that they hope will safeguard their future revenues and offer stability to businesses that operate internationally.”
“Stability”.... Make sure no nation can offer you a low-tax deal so they can position you for a solid azz raping no matter what nation you move to.
G-20 LEADERS sounds so much ‘nicer’
than the truth: G-20 THIEVES
The fools have no concern for WTP, those who
take on the burden of their tyrannical ways.
They have a vaccine for that.
Overhaul means if you are on board you go free if not we will take you out
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