G-7 countries reach agreement on 15 percent minimum global tax rate

[EvilEyeFleegle]

So..the idea is to make global corporations pay their share..regardless of borders. Not such a bad idea. This is not a tax imposition..but an agreement to have a 20% min. tax rate for corporations no matter their nation of record. The countries have agreed to have this min. and not to do business with, or to sanction those corporations that don't pay SOMEONE some taxes

G-7 countries reach agreement on 15 percent minimum global tax rate

The G-7 group of advanced economies announced an accord that could reshape the tax obligations of multinational corporations around the world.
The deal reached at the G-7 meeting in London Saturday by Canada, France, Germany, Italy, Japan, the United Kingdom, and the U.S. is a major breakthrough for the Biden administration’s efforts to enact a floor on the taxes paid by corporations worldwide.
Treasury Secretary Janet Yellen has been adamant that the U.S. needs to work with other countries to prevent firms seeking lower tax obligations from simply moving elsewhere. Corporate tax rates across the globe have fallen dramatically over the last four decades.
Yellen pushes global minimum tax as White House eyes new spending plan
“The G-7 Finance Ministers have made a significant, unprecedented commitment today that provides tremendous momentum toward achieving a robust global minimum tax at a rate of at least 15 percent,” Yellen, who led negotiations on behalf of the U.S., said in a statement.
“That global minimum tax would end the race-to-the-bottom in corporate taxation, and ensure fairness for the middle class and working people in the U.S. and around the world.”
In remarks at the close of the meeting, Yellen told reporters that the agreement represented the revival of multilateral cooperation after years of strain under President Trump.
Under the deal, the U.S. is expected to give up some taxing rights on overseas profits of U.S.-based tech giants.
The deal enables countries to tax 20 percent of the profits of “the largest and most profitable multinational enterprises” that have profit margins of at least 10 percent.

 

[theHawk]

Pay it to who?

 

[Damaged Eagle]

Treasury Secretary Janet Yellen has been adamant that the U.S. needs to work with other countries to prevent firms seeking lower tax obligations from simply moving elsewhere.

If it only applies to the countries involved what's to keep those companies from moving to a country that isn't part of the G-7?

Like China

*****SMILE*****

 

[Eric Arthur Blair]

Pay to whomever the tax would have otherwise gone presumably.

 

[007]

Pay it to who?

Exactly...

 

[JustAGuy1]

So..the idea is to make global corporations pay their share..regardless of borders. Not such a bad idea. This is not a tax imposition..but an agreement to have a 20% min. tax rate for corporations no matter their nation of record. The countries have agreed to have this min. and not to do business with, or to sanction those corporations that don't pay SOMEONE some taxes

G-7 countries reach agreement on 15 percent minimum global tax rate

The G-7 group of advanced economies announced an accord that could reshape the tax obligations of multinational corporations around the world.
The deal reached at the G-7 meeting in London Saturday by Canada, France, Germany, Italy, Japan, the United Kingdom, and the U.S. is a major breakthrough for the Biden administration’s efforts to enact a floor on the taxes paid by corporations worldwide.
Treasury Secretary Janet Yellen has been adamant that the U.S. needs to work with other countries to prevent firms seeking lower tax obligations from simply moving elsewhere. Corporate tax rates across the globe have fallen dramatically over the last four decades.
Yellen pushes global minimum tax as White House eyes new spending plan
“The G-7 Finance Ministers have made a significant, unprecedented commitment today that provides tremendous momentum toward achieving a robust global minimum tax at a rate of at least 15 percent,” Yellen, who led negotiations on behalf of the U.S., said in a statement.
“That global minimum tax would end the race-to-the-bottom in corporate taxation, and ensure fairness for the middle class and working people in the U.S. and around the world.”
In remarks at the close of the meeting, Yellen told reporters that the agreement represented the revival of multilateral cooperation after years of strain under President Trump.
Under the deal, the U.S. is expected to give up some taxing rights on overseas profits of U.S.-based tech giants.
The deal enables countries to tax 20 percent of the profits of “the largest and most profitable multinational enterprises” that have profit margins of at least 10 percent.

This is not a tax imposition.

Are you retarded? It's not an imposition for those making the agreement, it IS a Tax Imposition on the corps. It is not Constitutional to submit the US to monetary commitments to Nations other than our own.

 

[Oddball]

So..the idea is to make global corporations pay their share..regardless of borders. Not such a bad idea. This is not a tax imposition..but an agreement to have a 20% min. tax rate for corporations no matter their nation of record. The countries have agreed to have this min. and not to do business with, or to sanction those corporations that don't pay SOMEONE some taxes

G-7 countries reach agreement on 15 percent minimum global tax rate

The G-7 group of advanced economies announced an accord that could reshape the tax obligations of multinational corporations around the world.
The deal reached at the G-7 meeting in London Saturday by Canada, France, Germany, Italy, Japan, the United Kingdom, and the U.S. is a major breakthrough for the Biden administration’s efforts to enact a floor on the taxes paid by corporations worldwide.
Treasury Secretary Janet Yellen has been adamant that the U.S. needs to work with other countries to prevent firms seeking lower tax obligations from simply moving elsewhere. Corporate tax rates across the globe have fallen dramatically over the last four decades.
Yellen pushes global minimum tax as White House eyes new spending plan
“The G-7 Finance Ministers have made a significant, unprecedented commitment today that provides tremendous momentum toward achieving a robust global minimum tax at a rate of at least 15 percent,” Yellen, who led negotiations on behalf of the U.S., said in a statement.
“That global minimum tax would end the race-to-the-bottom in corporate taxation, and ensure fairness for the middle class and working people in the U.S. and around the world.”
In remarks at the close of the meeting, Yellen told reporters that the agreement represented the revival of multilateral cooperation after years of strain under President Trump.
Under the deal, the U.S. is expected to give up some taxing rights on overseas profits of U.S.-based tech giants.
The deal enables countries to tax 20 percent of the profits of “the largest and most profitable multinational enterprises” that have profit margins of at least 10 percent.

Seven agreed out of how many nations?

Mobster much?

 

[AMart]

Who has a corporate tax rate under 15%, Ireland?

 

[AMart]

So..the idea is to make global corporations pay their share..regardless of borders. Not such a bad idea. This is not a tax imposition..but an agreement to have a 20% min. tax rate for corporations no matter their nation of record. The countries have agreed to have this min. and not to do business with, or to sanction those corporations that don't pay SOMEONE some taxes

G-7 countries reach agreement on 15 percent minimum global tax rate

The G-7 group of advanced economies announced an accord that could reshape the tax obligations of multinational corporations around the world.
The deal reached at the G-7 meeting in London Saturday by Canada, France, Germany, Italy, Japan, the United Kingdom, and the U.S. is a major breakthrough for the Biden administration’s efforts to enact a floor on the taxes paid by corporations worldwide.
Treasury Secretary Janet Yellen has been adamant that the U.S. needs to work with other countries to prevent firms seeking lower tax obligations from simply moving elsewhere. Corporate tax rates across the globe have fallen dramatically over the last four decades.
Yellen pushes global minimum tax as White House eyes new spending plan
“The G-7 Finance Ministers have made a significant, unprecedented commitment today that provides tremendous momentum toward achieving a robust global minimum tax at a rate of at least 15 percent,” Yellen, who led negotiations on behalf of the U.S., said in a statement.
“That global minimum tax would end the race-to-the-bottom in corporate taxation, and ensure fairness for the middle class and working people in the U.S. and around the world.”
In remarks at the close of the meeting, Yellen told reporters that the agreement represented the revival of multilateral cooperation after years of strain under President Trump.
Under the deal, the U.S. is expected to give up some taxing rights on overseas profits of U.S.-based tech giants.
The deal enables countries to tax 20 percent of the profits of “the largest and most profitable multinational enterprises” that have profit margins of at least 10 percent.

The consumer pays the tax not the corporation. Nothing more than a pass through cost.

 

[theHawk]

So..the idea is to make global corporations pay their share..regardless of borders. Not such a bad idea. This is not a tax imposition..but an agreement to have a 20% min. tax rate for corporations no matter their nation of record. The countries have agreed to have this min. and not to do business with, or to sanction those corporations that don't pay SOMEONE some taxes

G-7 countries reach agreement on 15 percent minimum global tax rate

The G-7 group of advanced economies announced an accord that could reshape the tax obligations of multinational corporations around the world.
The deal reached at the G-7 meeting in London Saturday by Canada, France, Germany, Italy, Japan, the United Kingdom, and the U.S. is a major breakthrough for the Biden administration’s efforts to enact a floor on the taxes paid by corporations worldwide.
Treasury Secretary Janet Yellen has been adamant that the U.S. needs to work with other countries to prevent firms seeking lower tax obligations from simply moving elsewhere. Corporate tax rates across the globe have fallen dramatically over the last four decades.
Yellen pushes global minimum tax as White House eyes new spending plan
“The G-7 Finance Ministers have made a significant, unprecedented commitment today that provides tremendous momentum toward achieving a robust global minimum tax at a rate of at least 15 percent,” Yellen, who led negotiations on behalf of the U.S., said in a statement.
“That global minimum tax would end the race-to-the-bottom in corporate taxation, and ensure fairness for the middle class and working people in the U.S. and around the world.”
In remarks at the close of the meeting, Yellen told reporters that the agreement represented the revival of multilateral cooperation after years of strain under President Trump.
Under the deal, the U.S. is expected to give up some taxing rights on overseas profits of U.S.-based tech giants.
The deal enables countries to tax 20 percent of the profits of “the largest and most profitable multinational enterprises” that have profit margins of at least 10 percent.

This is not a tax imposition.

Are you retarded? It's not an imposition for those making the agreement, it IS a Tax Imposition on the corps. It is not Constitutional to submit the US to monetary commitments to Nations other than our own.

You seem to be under the impression that we are still a republic with a Constitution to at is adhered to.

 

[22lcidw]

So..the idea is to make global corporations pay their share..regardless of borders. Not such a bad idea. This is not a tax imposition..but an agreement to have a 20% min. tax rate for corporations no matter their nation of record. The countries have agreed to have this min. and not to do business with, or to sanction those corporations that don't pay SOMEONE some taxes

G-7 countries reach agreement on 15 percent minimum global tax rate

The G-7 group of advanced economies announced an accord that could reshape the tax obligations of multinational corporations around the world.
The deal reached at the G-7 meeting in London Saturday by Canada, France, Germany, Italy, Japan, the United Kingdom, and the U.S. is a major breakthrough for the Biden administration’s efforts to enact a floor on the taxes paid by corporations worldwide.
Treasury Secretary Janet Yellen has been adamant that the U.S. needs to work with other countries to prevent firms seeking lower tax obligations from simply moving elsewhere. Corporate tax rates across the globe have fallen dramatically over the last four decades.
Yellen pushes global minimum tax as White House eyes new spending plan
“The G-7 Finance Ministers have made a significant, unprecedented commitment today that provides tremendous momentum toward achieving a robust global minimum tax at a rate of at least 15 percent,” Yellen, who led negotiations on behalf of the U.S., said in a statement.
“That global minimum tax would end the race-to-the-bottom in corporate taxation, and ensure fairness for the middle class and working people in the U.S. and around the world.”
In remarks at the close of the meeting, Yellen told reporters that the agreement represented the revival of multilateral cooperation after years of strain under President Trump.
Under the deal, the U.S. is expected to give up some taxing rights on overseas profits of U.S.-based tech giants.
The deal enables countries to tax 20 percent of the profits of “the largest and most profitable multinational enterprises” that have profit margins of at least 10 percent.

This is not a tax imposition.

Are you retarded? It's not an imposition for those making the agreement, it IS a Tax Imposition on the corps. It is not Constitutional to submit the US to monetary commitments to Nations other than our own.

Globalism must get global taxation. The climate agenda is a scam to get globalist taxation. The real agenda is passing trillions of dollars to 2nd and 3rd world nations. Your views on that and others is to each their own. But the U.S. and other richer nations has spent hundreds of billions and hundreds of billions more and trillions over the decades to these nations. A lot of the money never made it to the people. A lot of the educating to improve crop yields and other improvements have never been followed for maximum success.

 

[Darkwind]

Treasury Secretary Janet Yellen has been adamant that the U.S. needs to work with other countries to prevent firms seeking lower tax obligations from simply moving elsewhere.

View attachment 497715

If it only applies to the countries involved what's to keep those companies from moving to a country that isn't part of the G-7?

Like China

*****SMILE*****

Shhhh...don't reveal the ending!

 

[Flash]

Only fucking morons believe that taxing more will produce more prosperity.

These idiots don't know a damn thing about Economics.

Here that sucking noise? That is the sound of American jobs being sucked into the countries that won't be adhering to that stupidity.

Corporations don't really pay taxes. They just pass along the expense to the cost of goods and services. The American people that buy the goods and services are the ones that pay it. More of the Joe Dufus inflation. More money out of our pockets to pay for an already bloated and wasteful government. More money for welfare for the Illegals, right? How about more bullet trains for California? They need the money more than the people that earned the money, right Moon Bat?

Didn't Joe Dufus tell the Moon Bats that he wasn't going to raise taxes on anybody making less than $450K a year? He lied, didn't he?

Anybody that voted for this Joe Dufus moron and then ignored the fact he stole the election is an idiot..

 

[yidnar]

So..the idea is to make global corporations pay their share..regardless of borders. Not such a bad idea. This is not a tax imposition..but an agreement to have a 20% min. tax rate for corporations no matter their nation of record. The countries have agreed to have this min. and not to do business with, or to sanction those corporations that don't pay SOMEONE some taxes

G-7 countries reach agreement on 15 percent minimum global tax rate

The G-7 group of advanced economies announced an accord that could reshape the tax obligations of multinational corporations around the world.
The deal reached at the G-7 meeting in London Saturday by Canada, France, Germany, Italy, Japan, the United Kingdom, and the U.S. is a major breakthrough for the Biden administration’s efforts to enact a floor on the taxes paid by corporations worldwide.
Treasury Secretary Janet Yellen has been adamant that the U.S. needs to work with other countries to prevent firms seeking lower tax obligations from simply moving elsewhere. Corporate tax rates across the globe have fallen dramatically over the last four decades.
Yellen pushes global minimum tax as White House eyes new spending plan
“The G-7 Finance Ministers have made a significant, unprecedented commitment today that provides tremendous momentum toward achieving a robust global minimum tax at a rate of at least 15 percent,” Yellen, who led negotiations on behalf of the U.S., said in a statement.
“That global minimum tax would end the race-to-the-bottom in corporate taxation, and ensure fairness for the middle class and working people in the U.S. and around the world.”
In remarks at the close of the meeting, Yellen told reporters that the agreement represented the revival of multilateral cooperation after years of strain under President Trump.
Under the deal, the U.S. is expected to give up some taxing rights on overseas profits of U.S.-based tech giants.
The deal enables countries to tax 20 percent of the profits of “the largest and most profitable multinational enterprises” that have profit margins of at least 10 percent.

is that on top of existing tax rates implemented by each country ?

 

[struth]

I am fine with a 20 percent tax rate for Corps...what are the dems proposing?

 

[EvilEyeFleegle]

So..the idea is to make global corporations pay their share..regardless of borders. Not such a bad idea. This is not a tax imposition..but an agreement to have a 20% min. tax rate for corporations no matter their nation of record. The countries have agreed to have this min. and not to do business with, or to sanction those corporations that don't pay SOMEONE some taxes

G-7 countries reach agreement on 15 percent minimum global tax rate

The G-7 group of advanced economies announced an accord that could reshape the tax obligations of multinational corporations around the world.
The deal reached at the G-7 meeting in London Saturday by Canada, France, Germany, Italy, Japan, the United Kingdom, and the U.S. is a major breakthrough for the Biden administration’s efforts to enact a floor on the taxes paid by corporations worldwide.
Treasury Secretary Janet Yellen has been adamant that the U.S. needs to work with other countries to prevent firms seeking lower tax obligations from simply moving elsewhere. Corporate tax rates across the globe have fallen dramatically over the last four decades.
Yellen pushes global minimum tax as White House eyes new spending plan
“The G-7 Finance Ministers have made a significant, unprecedented commitment today that provides tremendous momentum toward achieving a robust global minimum tax at a rate of at least 15 percent,” Yellen, who led negotiations on behalf of the U.S., said in a statement.
“That global minimum tax would end the race-to-the-bottom in corporate taxation, and ensure fairness for the middle class and working people in the U.S. and around the world.”
In remarks at the close of the meeting, Yellen told reporters that the agreement represented the revival of multilateral cooperation after years of strain under President Trump.
Under the deal, the U.S. is expected to give up some taxing rights on overseas profits of U.S.-based tech giants.
The deal enables countries to tax 20 percent of the profits of “the largest and most profitable multinational enterprises” that have profit margins of at least 10 percent.

is that on top of existing tax rates implemented by each country ?

No..it is an agreement that one of those countries will collect taxes of at least 15-20% and none of them will shelter those fleeing where they do the majority of their business..in search of low or no taxes paid. Implicit in the agreement is that the G-7 will make life 'difficult' for those small nations that usually provide such amenities to the corporate class.

 

[Blues Man]

I love how these so called world leaders like to blame GW on corporations when it is the individual consumers that is responsible for most of the CO2 emissions created

 

[jackflash]

EvilEyeFleegle ; the customers who purchase the corporations products pay the tax, NOT the corporations themselves.

 

[skews13]

This is not a tax imposition.

Are you retarded? It's not an imposition for those making the agreement, it IS a Tax Imposition on the corps. It is not Constitutional to submit the US to monetary commitments to Nations other than our own.

can

Pay it to who?

Don't know how to read?

The deal goes beyond setting a global rate — it also creates new rules for the digital era. Under the agreement, technology giants like Amazon, Facebook and other big global businesses will be required to pay taxes in countries where their goods or services are sold, even if they have no physical presence there.

The separate tax aimed at the technology giants will reallocate more than $125 billion of profits from the home countries of the 100 most profitable firms in the world to the markets where they operate.

This is the part I couldn't stop laughing about

Republicans disagree, and on Friday several Republican senators warned that the administration’s negotiations appeared to “undermine the Senate’s constitutional authority, as well as the United States’ role as a reliable trading partner.”

This is the same losers that won't raise the debt ceiling to pay for the money they spent under the one term loser.

But I digress. It doesn't matter what they think.

And i'll bet your dumb ass doesn't think those corporations agree with it. Think again.

Much of corporate America has been wary of the Biden administration’s tax plans, but has been supportive of parts of the global agreement because it would provide some clarity over their tax bills.

Read and weep.

 

[22lcidw]

can


Don't know how to read?

The deal goes beyond setting a global rate — it also creates new rules for the digital era. Under the agreement, technology giants like Amazon, Facebook and other big global businesses will be required to pay taxes in countries where their goods or services are sold, even if they have no physical presence there.

The separate tax aimed at the technology giants will reallocate more than $125 billion of profits from the home countries of the 100 most profitable firms in the world to the markets where they operate.

This is the part I couldn't stop laughing about

Republicans disagree, and on Friday several Republican senators warned that the administration’s negotiations appeared to “undermine the Senate’s constitutional authority, as well as the United States’ role as a reliable trading partner.”

This is the same losers that won't raise the debt ceiling to pay for the money they spent under the one term loser.

But I digress. It doesn't matter what they think.

And i'll bet your dumb ass doesn't think those corporations agree with it. Think again.

Much of corporate America has been wary of the Biden administration’s tax plans, but has been supportive of parts of the global agreement because it would provide some clarity over their tax bills.

Read and weep.

We are seeing the tiny result of globalism being forced on us since Biden was installed by the Globalists. Prices will continue to increase. Progs punish their own citizens to get their agendas.