Janet Yellen calls for global minimum corporate tax rate

[Martin Everson]

Well if this tax proposal goes through then it is a slippery slope towards a US global minimum wage. The US will do this by penalizing those countries with lower wages that export to the US. They will say that those countries are deriving an unfair competitive advantage over US workers and slap them with some sort of extra tariff on those goods or services they send to US. This will again be part of their leveling the playing field for more expensive US workers ca#"!.

The US in the future will not be competitive on the global stage so they will change the global rules to suit them.

Wait and see 😉

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[forense88]

Martin Everson said:
Well if this tax proposal goes through then it is a slippery slope towards a US global minimum wage. The US will do this by penalizing those countries with lower wages that export to the US. They will say that those countries are deriving an unfair competitive advantage over US workers and slap them with some sort of extra tariff on those goods or services they send to US. This will again be part of their leveling the playing field for more expensive US workers ca#"!.

The US in the future will not be competitive on the global stage so they will change the global rules to suit them.

Wait and see 😉
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No doubts. When they do not "like" the current international tax system, they will try to change it.

 

[Martin Everson]

Interesting read on topic

https://foreignpolicy.com/2021/04/12/global-minimum-corporate-tax-janet-yellen-bad-idea/

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[seabreeze]

Martin Everson said:
Interesting read on topic

https://foreignpolicy.com/2021/04/12/global-minimum-corporate-tax-janet-yellen-bad-idea/
Click to expand...

A suprisingly uninspiring text for FP

 

[glengoolie]

i would not take it too lightly. sure, it might be called global and not be, most likely outcome due to other superpowers like china and russia, but that does not mean nothing will happen. i would be very sceptical about CANZUK, USA and EU.