Plot twist: this deal is specifically and only for multinationals, experts in shifting their profits around between countries to avoid paying taxes.
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Big Tech Companies to Be Hit by 'Historic' International Tax Agreement
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Finally..
However, tax dodging in Ireland with Apple, and i'm sure most other countries do the same as the reason they can make great products.. (???) if users did they they'd be jailed..
But businesses (particularly *big* businesses) they could afford the fight anyway if it came to that...
It may STILL come to that .. who knows.
However, tax dodging in Ireland with Apple, and i'm sure most other countries do the same as the reason they can make great products.. (???) if users did they they'd be jailed..
But businesses (particularly *big* businesses) they could afford the fight anyway if it came to that...
It may STILL come to that .. who knows.
What are you on about?
- This deal is for multinationals that do tax evations, it does not apply to small businesses.
- “lefties“ are progressives, not conservatives
- this G7 deal will now go to the G20, including China
- Brexit meant to be able to make new laws, independent of the EU. What did you expect: that the UK would close of from the entire world? Also, the UK still had to make massive trade agreements with the EU, which it has zero control over from now on. it just has to accept them.
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My tiny company paid more corporation tax than these tech giants , corp tax along with inheritance tax is the worst tax of all . Small companies need that money to invest for the future , imo corp tax should only apply for businesses with over £1m turnover , they can absorb it , tiny ones can't.
No it’s not. Multinationals are not supposed to offload their profits to countries with lower tax rates to avoid paying them. Not only is this not fair for small businesses who can’t do this, it’s pretty much the opposite of capitalism that requires a level playing field and equal market opportunities for all companies. Capitalism can’t just favor the big ones.
Governments should not attract companies with lower taxes: it has been tried for over 30 years and does not work. It creates a race to the bottom on tax rates and causes massive job uncertainty as companies can just pack up and go to other countries.
Not to mention it’s immoral for these multinationals to not pay their taxes, as it will cause other taxes, like your personal taxes, to go up to compensate for it.
This is a very good and necessary deal. Let’s hope other countries join soon.
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But governments have a massive new income (that they should have had in the first place) and can now lower other taxes like personal taxes. Or at least start paying for the massive depths this pandemic has caused.
There's a point where price meets sales and the goal is to always be at that magic number. A 15% price boost may be too much and would actually push profits lower by reducing sales.
So that means big tech companies will then move to countries that did not made this agreement.
Silcon Valley is too expensive as it is already anyway.
Silcon Valley is too expensive as it is already anyway.
They are not going to lower taxes, especially with a budget deficit most countries have due to spending too much taxpayers money. They will increases other taxes also.
Stop lying. Apple is the largest taxpayers in the world, paying billions in corporate taxes every single year.
It is quite funny how people think they pay more taxes than companies like Apple, when there is literally nobody in the world who pays as much tax as Apple does.
A % of nothing is still nothing. People who think they pay more taxes than Apple because they pay a higher effective % is just crazy talk.
Who cares? People who are in the middle class and below. Inflation is already insane, we don’t need anymore upward pressure on inflation. There’s a time and place for everything.
In Latin America we know how inflation can destroy societies, and right now it’s pretty bad, especially in the US with all their crazy spending and the lack of raw materials.
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Are you purposely not seeing the point? If a small business pays 40% taxes and a multinational pays 7% taxes because of tax heavens, benefits and tax evasion schemes, the first one pays higher taxes, even if the multinational pays a larger amount. It’s about the scale of things.
For the first this can make the difference between make and break. For the latter it doesn’t necessarily have an impact at all.
Anyway, this new agreement applies to multinationals, so good for the government to get the money where it’s at. The big companies, not the little local businesses or the middle class.
No, it is twisting of facts and a total lie.
This forum user does not pay more taxes than Apple, nobody does.
And this only taking into account corporate taxes, because due to Apple, there is also income taxes that it’s employees have to pay.
Now you all can pretend that you guys pay more taxes with some twisting of statistics, but it is BS.
This forum user does not pay more taxes than Apple, nobody does.
And this only taking into account corporate taxes, because due to Apple, there is also income taxes that it’s employees have to pay.
Now you all can pretend that you guys pay more taxes with some twisting of statistics, but it is BS.
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If they risk selling far less phones they’ll eat part of the tax, well, not increase, the tax they should be already paying.
This is the core reason for a common tax floor. Local SME’s should not have higher tax than international companies.
USB28 and Tim both need to retake a basic math exam as they seem to have failed the “%” chapter.
I doubt that this will change much.
Taxes are paid on profit.
And if companies just charge “fake” license fees from their subsidiaries to lower their profits on paper near zero and move the one company making profits (now outside of G7) to some other tax haven, little changes.
Taxes are paid on profit.
And if companies just charge “fake” license fees from their subsidiaries to lower their profits on paper near zero and move the one company making profits (now outside of G7) to some other tax haven, little changes.
Sounds great on paper but companies will put their prices up to make up for it. The only ones that will suffer is the consumer as usual.
Don’t feel sad for multinationals. They don’t feel sad for you when they evade or avoid taxes, causing other taxes like yours to go up in order to compensate for it. They will be just fine.
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Said companies can’t afford to price themselves out of the market, either. We’ll see how it goes.
On the other hand, it’s not as if apple (and others) wasn’t already reaching the limits of “how much are people willing to put up with” regarding pricing. See how much they charge for 8 extra gigs of ram, then tell me they should be allowed to keep avoiding taxes.