“The Organisation for Economic Co-operation and Development (OECD) worked for years to negotiate a deal among its member countries that would close loopholes allowing large multinational companies to avoid paying up to $240 billion each year in tax.
While the Biden administration broadly supports the plan, Senate Republicans are against it, and a divided Senate has stopped the US ratifying the agreement.
Other countries aren’t waiting to find out.
Canada recently implemented a local tax on the world’s largest tech companies, something the OECD treaty had sought to avoid.
New Zealand has also said it will implement its own digital services tax on large multinational companies beginning in 2025.
(Additionally the classic bully technique of we might go somewhere else…except somewhere else might just be mars…or Argentina only…🤔): “If taxation and global policy toward digital companies is “uncertain, unpredictable and unstable” companies might not want to “make investments, contribute to economic growth and create and retain jobs.”……N Korea is getting jobs….🤭
Well, time to start classifying IP as ITAR and imprisoning VPs of companies that violate that.
Oh no, not the trillion dollar companies! How will they ever afford more taxes!
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“The Organisation for Economic Co-operation and Development (OECD) worked for years to negotiate a deal among its member countries that would close loopholes allowing large multinational companies to avoid paying up to $240 billion each year in tax.
While the Biden administration broadly supports the plan, Senate Republicans are against it,
and a divided Senate has stopped the US ratifying the agreement.
Other countries aren’t waiting to find out.
Canada recently implemented a local tax on the world’s largest tech companies, something the OECD treaty had sought to avoid.
New Zealand has also said it will implement its own digital services tax on large multinational companies beginning in 2025.
(Additionally the classic bully technique of we might go somewhere else…except somewhere else might just be mars…or Argentina only…🤔):
“If taxation and global policy toward digital companies is “uncertain, unpredictable and unstable” companies might not want to “make investments, contribute to economic growth and create and retain jobs.”……N Korea is getting jobs….🤭
Well, time to start classifying IP as ITAR and imprisoning VPs of companies that violate that.
Oh no, not the trillion dollar companies! How will they ever afford more taxes!