Guest Posted June 2, 2021 Share Posted June 2, 2021 https://www.google.com/amp/s/www.businessinsider.com/biden-g7-global-minimum-tax-agreement-in-100-years-report-2021-5%3famp Still not very optimistic about reaching the deal because that would be HUGE and a game changer, but let's pray Watching at Europe, is this the start of the end of the 5 tax havens we have (Netherlands or Luxemburg among them) and the creation of a more fair Europe? Link to post Share on other sites More sharing options...
Better Day 5,766 Posted June 2, 2021 Share Posted June 2, 2021 The only country to vote against it is the UK Together You And I! Link to post Share on other sites More sharing options...
Guest Posted June 2, 2021 Share Posted June 2, 2021 32 minutes ago, Miss Dolly said: The only country to vote against it is the UK No wonder, between the Cayman Islands (UK territory) and UK itself they move 25% of GLOBAL tax loss. Netherlands and others are not in the G7 and have no vote on this, so I am sure they are not happy about that at all Link to post Share on other sites More sharing options...
Guest Posted June 5, 2021 Share Posted June 5, 2021 https://www.google.com/amp/s/www.bbc.co.uk/news/business-57349803.amp Almost there! Bye bye tax dumping countries Link to post Share on other sites More sharing options...
Economy 52,840 Posted June 5, 2021 Share Posted June 5, 2021 Most Countries are already above this threshold anyway so i dont think it will change a lot But anyway is this total tax or just Federal? Cuz here in Canada our Corporate tax rate is literally 15% right on the mark but every Province adds like 10% on it or so, so the real total rate is more like 25% Does this mean Canada could or couldnt lower it to 14% for example hypathetically? Is it total Government taxes or just Federal? Link to post Share on other sites More sharing options...
Guest Posted June 5, 2021 Share Posted June 5, 2021 1 hour ago, Economy said: Most Countries are already above this threshold anyway so i dont think it will change a lot But anyway is this total tax or just Federal? Cuz here in Canada our Corporate tax rate is literally 15% right on the mark but every Province adds like 10% on it or so, so the real total rate is more like 25% Does this mean Canada could or couldnt lower it to 14% for example hypathetically? Is it total Government taxes or just Federal? Maybe in Canada the situation won't change much but here in Europe there's 2 countries, Netherlands and Luxemburg, that already make 15% of the tax loss in the world, so yeah, at least in here it seems the situation will change a lot. And the final deal will be revealed in the next weeks but it seems the 15% is a minimum, so I assume there will be some room for extra %. Huge news anyway. Link to post Share on other sites More sharing options...
Economy 52,840 Posted June 5, 2021 Share Posted June 5, 2021 29 minutes ago, NAMURO said: Maybe in Canada the situation won't change much but here in Europe there's 2 countries, Netherlands and Luxemburg, that already make 15% of the tax loss in the world, so yeah, at least in here it seems the situation will change a lot. And the final deal will be revealed in the next weeks but it seems the 15% is a minimum, so I assume there will be some room for extra %. Huge news anyway. Our rate already is 15%... so if say the final number was 18% after the final deal would we have to raise it or is it total government rate? Link to post Share on other sites More sharing options...
Guest Posted June 5, 2021 Share Posted June 5, 2021 I don't think your personal rate will be modified, this deal is made to avoid big companies evade taxes and to eradicate tax haven countries. If yours is one of them (I don't think so cause Canada is at #19 in that list) and the rate has to be increased in order to make better public system, welcome it is Link to post Share on other sites More sharing options...
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