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I don't remember voting for this... Global Tax coming

 
J3
J to the 3rd

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10/09/2021 08:12 AM

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I don't remember voting for this... Global Tax coming
were headed back to serfdom.


World leaders reach landmark deal on a global corporate tax rate

[link to www.cnbc.com (secure)]
No vax, NEVER! #clotshot

mad as hell... fuck you, joe! #notmypresident
J3  (OP)
J to the 3rd

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Switzerland
10/09/2021 08:18 AM

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Re: I don't remember voting for this... Global Tax coming
less than 50

“The landmark deal, agreed by 136 countries and jurisdictions representing more than 90% of global GDP, will also reallocate more than USD 125 billion of profits from around 100 of the world’s largest and most profitable MNEs to countries worldwide, ensuring that these firms pay a fair share of tax wherever they operate and generate profits,” the OECD said in a statement Friday.
No vax, NEVER! #clotshot

mad as hell... fuck you, joe! #notmypresident
Anonymous Coward
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United States
10/09/2021 08:31 AM
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Re: I don't remember voting for this... Global Tax coming
Voting.epiclol
Anonymous Coward
User ID: 26669668
Canada
10/09/2021 08:32 AM
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Re: I don't remember voting for this... Global Tax coming
yeah, we never vote for anything they do to us. Voting is a scam. The entire system is a fraud. We are slaves, made to think we are 'free'.
J3  (OP)
J to the 3rd

User ID: 80931075
Switzerland
10/09/2021 08:41 AM

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Re: I don't remember voting for this... Global Tax coming
yeah, we never vote for anything they do to us. Voting is a scam. The entire system is a fraud. We are slaves, made to think we are 'free'.
 Quoting: Anonymous Coward 26669668


and each passing day, we realize, more and more, that we are anything but free, and the noose is tightening.

it's depressing
No vax, NEVER! #clotshot

mad as hell... fuck you, joe! #notmypresident
Well Well Well

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Dominican Republic
10/09/2021 08:46 AM
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Re: I don't remember voting for this... Global Tax coming
People still believe in the voting myth???
J3  (OP)
J to the 3rd

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Switzerland
10/09/2021 08:54 AM

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Re: I don't remember voting for this... Global Tax coming
People still believe in the voting myth???
 Quoting: Well Well Well


no, obvious sarcasm should have been obvious

1dunno1
No vax, NEVER! #clotshot

mad as hell... fuck you, joe! #notmypresident
FeedYourHead

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10/09/2021 08:57 AM

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Re: I don't remember voting for this... Global Tax coming
were headed back to serfdom.


World leaders reach landmark deal on a global corporate tax rate

[link to www.cnbc.com (secure)]
 Quoting: J3


Nobody voted for "THE NEW WORLD ORDER" but the tyrants who own us are doing it anyway....
Ask Alice when she's 10ft tall
Anonymous Coward
User ID: 80874688
Canada
10/09/2021 08:58 AM
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Re: I don't remember voting for this... Global Tax coming
Global Tax RATE
it's not a global tax you have to pay. shezzz

wtfdid
Anonymous Coward
User ID: 80874688
Canada
10/09/2021 09:02 AM
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Re: I don't remember voting for this... Global Tax coming
no matter how stupidly you spend your money you would still have to pay taxes.
Sol-tari

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Australia
10/09/2021 09:02 AM

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Re: I don't remember voting for this... Global Tax coming
The deal marks a shift in tax policy because it not only imposes a minimum corporate tax rate, but it also forces companies to pay taxes where they operate — not just where they have their headquarters.

The exact formula for working out how much companies will owe across the various jurisdictions is one detail that still needs to be finalized.



Those poor corporations!

chuckle
I am Protected...I am the Protector
Cryptographer

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10/09/2021 09:05 AM
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Re: I don't remember voting for this... Global Tax coming
This will only end with more clever solutions. Also I only see mega-corps finding it difficult to avoid.

For example, smaller business owners could simply open a completely new company and own both --

for example:

Company A - United States - Sells Software

Company B - Ireland - Sells Hosting Services, Software Licenses - etc

Company A buys Hosting, Licensing, etc from company B and that is where the profits are realized. Company A makes little or no money in operations. Effective outcome? Company A is not subject to the high taxes of the US as they don't make the profit.

After all, they just said "The tax rate of where the profits are MADE is what tax will apply."

Point is, there will always be a way around it.

Now, it would be hard for a company say the size of Walmart that is publicly traded to do this type of move but not smaller operators.
Cryptographer
J3  (OP)
J to the 3rd

User ID: 80931075
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10/09/2021 09:32 AM

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Re: I don't remember voting for this... Global Tax coming
you know how it goes. or you should...

they start like this, and then pass global tax rates on to everyone else, while the corps raise prices.

then, they raise the rates, despite promising not to.
No vax, NEVER! #clotshot

mad as hell... fuck you, joe! #notmypresident
Gypo O'Leary

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Ukraine
10/09/2021 09:38 AM
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Re: I don't remember voting for this... Global Tax coming
no matter how stupidly you spend your money you would still have to pay taxes.
 Quoting: Anonymous Coward 80874688


Consumers pay corporate taxes, because all corporate revenue comes from consumer purchases.

This just equals: jacking up prices of goods to fuck the little guy a little more.
A. Nonymous Coward
Nosy gal

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10/09/2021 10:03 AM
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Re: I don't remember voting for this... Global Tax coming
Global Tax RATE
it's not a global tax you have to pay. shezzz

wtfdid
 Quoting: Anonymous Coward 80874688


No one reads anymore… I don’t understand why closing corporate tax dodges would be wrong..sheeshhhh for people who claim not to be sheep they sure do a lot of useless bleating wtf
Anonymous Coward
User ID: 79438467
United States
10/09/2021 10:27 AM
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Re: I don't remember voting for this... Global Tax coming
Global Tax RATE
it's not a global tax you have to pay. shezzz

wtfdid
 Quoting: Anonymous Coward 80874688


All corps must now pay a minimum of 15% tax no matter where they do business. Anytime corp taxes go up, retail prices go up to compensate. You are paying this tax.
Anonymous Coward
User ID: 79438467
United States
10/09/2021 10:29 AM
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Re: I don't remember voting for this... Global Tax coming
Global Tax RATE
it's not a global tax you have to pay. shezzz

wtfdid
 Quoting: Anonymous Coward 80874688


No one reads anymore… I don’t understand why closing corporate tax dodges would be wrong..sheeshhhh for people who claim not to be sheep they sure do a lot of useless bleating wtf
 Quoting: Nosy gal


Lower corp taxes means lower consumer prices and vice versa.
J3  (OP)
J to the 3rd

User ID: 80931075
Switzerland
10/09/2021 11:32 AM

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Re: I don't remember voting for this... Global Tax coming
Global Tax RATE
it's not a global tax you have to pay. shezzz

wtfdid
 Quoting: Anonymous Coward 80874688


All corps must now pay a minimum of 15% tax no matter where they do business. Anytime corp taxes go up, retail prices go up to compensate. You are paying this tax.
 Quoting: Anonymous Coward 79438467


thanks for explaining it for the morans.
No vax, NEVER! #clotshot

mad as hell... fuck you, joe! #notmypresident
Anonymous Coward
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Australia
10/09/2021 03:07 PM
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Re: I don't remember voting for this... Global Tax coming
Vax Tax
Sol-tari

User ID: 76101247
Australia
10/09/2021 03:16 PM

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Re: I don't remember voting for this... Global Tax coming
Global Tax RATE
it's not a global tax you have to pay. shezzz

wtfdid
 Quoting: Anonymous Coward 80874688


No one reads anymore… I don’t understand why closing corporate tax dodges would be wrong..sheeshhhh for people who claim not to be sheep they sure do a lot of useless bleating wtf
 Quoting: Nosy gal


Lower corp taxes means lower consumer prices and vice versa.
 Quoting: Anonymous Coward 79438467


rofl5

Corps go for the Max profit they can get.

That's why whenever business gets a tax decrees, or a government handout, the only thing that changes is an increase in yearly profits.

If a multi million/billion dollar profitable business can't chip in 15% of that without raising prices...

Perhaps the system is a bit fucked eh?
I am Protected...I am the Protector
Anonymous Coward
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10/09/2021 03:37 PM
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Re: I don't remember voting for this... Global Tax coming
were headed back to serfdom.


World leaders reach landmark deal on a global corporate tax rate

[link to www.cnbc.com (secure)]
 Quoting: J3


15% minimum corporate tax rate across the board worldwide. Taxes must be paid in jurisdiction where business operates, not just where HQ is.

I'm not really in favor of higher taxes in general, but this would be a step towards equalizing the playing field for domestics and small to medium businesses.

As it stands now, it is extremely difficult for a small retailer to remain in the market. Large corps can take advantage of international tax loopholes that allow them to offset operating costs which enables them to offer lower prices. Small and medium businesses don't have the ability to take advantage of this and therefore cannot price competitively. A 15% reduction in operating costs could comprise half of a small business' inventory costs, so it's quite a big deal.

In the end, it will mean higher prices for consumers.

This isn't the only area that needs to be addressed, though. From a business perspective, it's also difficult to compete with international sellers who get direct access to the production markets and are then able to ship products internationally at a fraction of the cost a US seller would have to pay.

Maybe the government is finally seeing the precarious position most small businesses are in now that the Covid shutdowns killed 50% of all US small businesses.
Anonymous Coward
User ID: 80976164
United States
10/09/2021 03:43 PM
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Re: I don't remember voting for this... Global Tax coming
This will only end with more clever solutions. Also I only see mega-corps finding it difficult to avoid.

For example, smaller business owners could simply open a completely new company and own both --

for example:

Company A - United States - Sells Software

Company B - Ireland - Sells Hosting Services, Software Licenses - etc

Company A buys Hosting, Licensing, etc from company B and that is where the profits are realized. Company A makes little or no money in operations. Effective outcome? Company A is not subject to the high taxes of the US as they don't make the profit.

After all, they just said "The tax rate of where the profits are MADE is what tax will apply."

Point is, there will always be a way around it.

Now, it would be hard for a company say the size of Walmart that is publicly traded to do this type of move but not smaller operators.
 Quoting: Cryptographer


What you're describing is what they're doing now, except they keep the HQ overseas so they never pay the domestic tax rate unless the money is repatriated. It looks like this new agreement would require the taxes to be paid in the country the products are sold, regardless of where the HQ is.

I don't see much downside to this for countries like the US other than higher prices. It will be the small countries like Ireland and Malaysia that will take a hit as they will no longer be able to undercut corporate taxes to operate as a tax haven for overseas operations.
J3  (OP)
J to the 3rd

User ID: 80931075
Switzerland
10/10/2021 04:17 PM

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Re: I don't remember voting for this... Global Tax coming
This will only end with more clever solutions. Also I only see mega-corps finding it difficult to avoid.

For example, smaller business owners could simply open a completely new company and own both --

for example:

Company A - United States - Sells Software

Company B - Ireland - Sells Hosting Services, Software Licenses - etc

Company A buys Hosting, Licensing, etc from company B and that is where the profits are realized. Company A makes little or no money in operations. Effective outcome? Company A is not subject to the high taxes of the US as they don't make the profit.

After all, they just said "The tax rate of where the profits are MADE is what tax will apply."

Point is, there will always be a way around it.

Now, it would be hard for a company say the size of Walmart that is publicly traded to do this type of move but not smaller operators.
 Quoting: Cryptographer


What you're describing is what they're doing now, except they keep the HQ overseas so they never pay the domestic tax rate unless the money is repatriated. It looks like this new agreement would require the taxes to be paid in the country the products are sold, regardless of where the HQ is.

I don't see much downside to this for countries like the US other than higher prices. It will be the small countries like Ireland and Malaysia that will take a hit as they will no longer be able to undercut corporate taxes to operate as a tax haven for overseas operations.
 Quoting: Constant Parad0x


higher prices for the consumer (us, obviously) and yes, small countries lose their edge as you mentioned. and, prices and taxes are always sticky upwards (when they go up, they do't go down easily)
No vax, NEVER! #clotshot

mad as hell... fuck you, joe! #notmypresident





GLP