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| Nations agree to 15% minimum corporate tax rate |
| 2021-10-09 |
| [BBC] Most of the world's nations have signed up to a historic deal to ensure big companies pay a fairer share of tax. Some 136 countries agreed to enforce a corporate tax rate of at least 15%, as well a fairer system of taxing profits where they are earned. It follows concern that multinational companies are re-routing their profits through low tax jurisdictions to cut their bills. Yet critics say a 15% rate is too low, and firms will get around the rules. UK Chancellor Rishi Sunak said the deal would "upgrade the global tax system for the modern age". "We now have a clear path to a fairer tax system, where large global players pay their fair share wherever they do business," he said. |
| Posted by:Besoeker |
| #6 Except China. |
| Posted by: Ebbomoger Speaking for Boskone4589 2021-10-09 16:11 |
| #5 There are more than 136 nations in the world. Here come the new tax havens among the countries that haven't agreed to this silliness. Unexpectedly! |
| Posted by: Tom 2021-10-09 14:14 |
| #4 At least its a starting point to work from. Now tighten up the ALL the LOOP HOLES and hidden exemptions. Plus what M. Murcek said in the #2 comment is valid. "Corporations don't pay taxes. Their customers do. " QUESTION: How about US Constitutional Amendment to get rid of the ALL Income taxes and just go with a 15% Value Added Flat Tax? With $20.53 Trillion in consumer spending (2018), that works out to something like $3.079 Trillion in Tax revenue and eliminates a lot of hidden taxes. Plus it kinda forces Congress and States to be more careful in passing needless Laws and spending frugal. |
| Posted by: NN2N1 2021-10-09 07:38 |
| #3 Yet critics say a 15% rate is too low, and firms will get around the rules. Precisely one 'critic' is mentioned in the article, referenced in the passive voice, and one presumably with a vested interest in the outcome. Funny how they don't even bother with Tax Critic #2. |
| Posted by: Raj 2021-10-09 01:15 |
| #2 Corporations don't pay taxes. Their customers do. |
| Posted by: M. Murcek 2021-10-09 00:30 |
| #1 Fair for all would be a zero percent minimum income tax. |
| Posted by: badanov 2021-10-09 00:17 |