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Its a start - - 'Bad news for tax havens': G7 finance ministers agree to 15% global minimum corporation tax to make tech giants pay their fair share in plan that will now go to G20 nations next month

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Its a start - - 'Bad news for tax havens': G7 finance ministers agree to 15% global minimum corporation tax to make tech giants pay their fair share in plan that will now go to G20 nations next month Empty Its a start - - 'Bad news for tax havens': G7 finance ministers agree to 15% global minimum corporation tax to make tech giants pay their fair share in plan that will now go to G20 nations next month

Post by Didgee Sat Jun 05, 2021 9:55 pm

G7 finance ministers today agreed to a minimum global corporation tax rate of 15% to make tech giants pay their fair share.

The 'historic' agreement, reached between the world's most advanced economies, was dubbed 'bad news for tax havens' by Germany and will go to nations in the G20 next month for further approval.

It will see huge multi-nationals - such as Google, Amazon and Facebook - forced to pay a levy on the sales in the country in which they are earned, as well as where they have headquarters.

Currently, major companies can simply set up a branch in nations with lower tax rates and declare profits there, meaning they only pay that local rate, rather than those in the countries where its products and services are mostly sold.

The G7 deal also aims to eliminate the 'race to the bottom', which has seen countries undercut each other with low tax rates in a bid to attract some of the world's biggest names.

https://www.dailymail.co.uk/news/article-9654531/G7-finance-ministers-meet-agree-new-minimum-global-level-corporate-tax.html

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Post by Maddog Sat Jun 05, 2021 9:58 pm

This is good news for countries not in the G7.

It also shows that a lot of wealthy countries don't fund their governments with high corporate tax rates, as some would lead you to believe.

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Post by Ben Reilly Sat Jun 05, 2021 10:53 pm

It's about fucking time. Imagine if we could all say we lived in the Cayman Islands and pay zero tax. Who would let us get away with that?

But because it's Google and Amazon, we just accept it as the way the world works.

Well fuck that bullshit. Fuck the man. Fuck the police! Power to the people!

Okay, went a bit off the rails in that last bit. But yeah, I'm tired of one set of rules for the little guy and no rules for the rich.

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Post by Maddog Sun Jun 06, 2021 1:51 am

Ben Reilly wrote:It's about fucking time. Imagine if we could all say we lived in the Cayman Islands and pay zero tax. Who would let us get away with that?

But because it's Google and Amazon, we just accept it as the way the world works.

Well fuck that bullshit. Fuck the man. Fuck the police! Power to the people!

Okay, went a bit off the rails in that last bit. But yeah, I'm tired of one set of rules for the little guy and no rules for the rich.

They could still say they live in the Cayman Islands.

This all sounds a little one world orderish for me.


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Post by Tommy Monk Sun Jun 06, 2021 4:10 pm




It would already be easy for a govt to legislate that any company that wishes to do trade/business in their country, to have to have a registered local branch of that company in that country, and thereby tax it accordingly for the business it does within said country.



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Post by Vintage Sun Jun 06, 2021 6:39 pm

The system only works if those working in it do it right. The attitude of a lot of health workers leave a lot to be desired. Senior doctors have always been a bit god like but now the juniors and the nurses seem to be too important to bother with you or at least some of them. I know I'm going back a while but our local gp had 6 morning surgeries a week and four evening surgeries,
in between he'd do home calls and was on a rota for night calls. We'd turn up at the surgery, check who was in front of us and wait your turn, it may take a while but you knew you'd be seen.
No receptionist just go into the dr. room when the patient before you came out. You'd get advice, a prescription or a letter there and then for a referral. There were two chemists, hardly any wait get your medication and off to go. Now your on the phone about an hour trying to get an appointment, some times takes a few days trying, if you are lucky enough to get an appointment you'd be at least an hour over your appointed time. Into the chemist hand in your prescription and wait or sometimes it'll have to be ordered from the central pharmacy and you have to go back in the afternoon or next day, even worse now of course with covid. We have to get forms and prescriptions through a barely open window.

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Post by Vintage Mon Jun 07, 2021 8:59 pm

Apologies wrong thread - I don't know how I managed that.

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Post by Didgee Tue Jun 08, 2021 7:54 pm

Vintage wrote:The system only works if those working in it do it right. The attitude of a lot of health workers leave a lot to be desired. Senior doctors have always been a bit god like but now the juniors and the nurses seem to be too important to bother with you or at least some of them. I know I'm going back a while but our local gp had 6 morning surgeries a week and four evening surgeries,
in between he'd do home calls and was on a rota for night calls. We'd turn up at the surgery, check who was in front of us and wait your turn, it may take a while but you knew you'd be seen.
No receptionist just go into the dr. room when the patient before you came out. You'd get advice, a prescription or a letter there and then for a referral. There were two chemists, hardly any wait get your medication and off to go. Now your on the phone about an hour trying to get an appointment, some times takes a few days trying, if you are lucky enough to get an appointment you'd be at least an hour over your appointed time. Into the chemist hand in your prescription and wait or sometimes it'll have to be ordered from the central pharmacy and you have to go back in the afternoon or next day, even worse now of course with covid. We have to  get forms and prescriptions through a barely open window.

+1 Vintage and hopefully one of the mods can move your post over to the right thread for you

You are right that a system only works its being done right, yet I feel this has slipped since the pandemic. Creating further medical health issues if patients are not being seen

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