136 countries sign global agreement on corporate tax

[yota691]

136 countries sign global agreement on corporate tax

Economie| 12:26 - 09/10/2021

 

 

 

 

Follow-up - Mawazine News,
according to British press reports, on Saturday, that more than 130 countries have signed a pioneering global agreement on corporate tax reform, which aims to eliminate tax havens, while providing an additional 150 billion dollars annually from multinational companies.
The British Financial Times reported that the 136 countries also agreed to a two-year ban on imposing new taxes on technology groups, such as Google and Amazon, while the Biden administration tries to ratify the agreement in the United States.
The deal, the largest corporate tax reform in more than a century put in place by the Organization for Economic Co-operation and Development, includes a minimum effective global corporate tax rate of 15%, as well as new rules to force the world's multinational companies to declare profits and pay more in the countries in which they work."
The number of countries ready to join fluctuated on Friday, with India agreeing at the last minute and China and Brazil also reluctant to sign, the Financial Times said, citing sources.
The difficulty of implementing the agreement became apparent when US Treasury Secretary Janet Yellen urged Congress to quickly enact proposals that use the so-called reconciliation process, which allows bills to pass the Senate by a simple majority.
"The agreement is a once-in-a-generation achievement of economic diplomacy," she said.
The stakes remain high for the United States and countries like India, which have taxed tech companies in Silicon Valley.
And if Congress fails to implement the agreement, these countries may go ahead with their official taxes, triggering trade disputes with the United States. Ended 29/A 4

[markb57]

anything with Global attached to it is inherently evil....

[Longtimelurker]

15 hours ago, markb57 said:

anything with Global attached to it is inherently evil....

I dont like the sound of it either. 

[coorslite21]

Biden and those "handlers" are trying very hard to sell the US to the global aholes that want to destroy and control all the little people..  

CL

[boosterbglee]

China not signing...shocking!