Deal Reached On Global Minimum Corporate Tax Rate Of At Least 15%

[troubled soul]

20.34 trillion‍ U.S. dollars are combine GDP of them and They are still growing with 41.53% of⁠ the world population.

by Jim O’Neill (Former Goldman Sachs Chairman)

Why the G7 is a zero
https://www.fnlondon.com/articles/jim-oneill-why-the-g7-is-a-zero-20180612

 

[Martin Everson]

Will be good to see this group stand up to G7 nations. They have the‌ right to do so. But unfortunately the global financial system is largely a western controlled‍ construct. It would be a game changer however on the international stage if they can⁠ reject the G7 plans rof/%.

 

[Golden Fleece]

But a small group of psychopathic families, children of the‍ murdering revolutionaries, certainly rule China:

https://www.washingtonpost.com/opin...b60d7c-506d-11e2-839d-d54cc6e49b63_story.html

 

[troubled soul]

What can I say,
It is chaotic and‍ complex world

 

[troubled soul]

Will China become the centre of the world economy?​

 

[jjrapy]

https://www.euronews.com/2021/07/10...of-15-looks-set-to-get-the-green-light-at-g20

 

[JackAlabama]

Deng actually moved away from Maos policies and‍ wanted to have more of Hong Kongs system, which they also knew is superior than⁠ the state controlled communistic one.
Also in China the "mandate of heaven" 天命 is paramount⁤ of legitimizing a certain rule.
https://en.wikipedia.org/wiki/Mandate_of_HeavenIt is well and alive today too and interesting⁣ to see its implications going forward in Chinas very complex and fascinating history.

 

[freegeek]

mostly the current first world countries because they already have this setup albeit paid⁢ by high taxes. People accept living in shitholes because of tax reasons. There is a︀ reason why millions are trying to get into the EU, because in general it's a︁ good place to live.

 

[BlueMist]

These reasons are: Africans, Arabs, Asians, with⁤ some exceptions of course. They see EU as a place of equality, where they will⁣ get FREE healthcare, pension and state education for their kids. I don't think millions of⁢ Canadians, Americans, Australians etc. are trying get into EU.

 

[freegeek]

i was obviously not talking about Canadians, Americans. In⁤ general millions are trying to get into first world countries be it EU, USA, Australia⁣ because quality of life.

 

[ih8socialism]

In case UAE imposes the 15% do you guys think this would also affect companies‌ owned by locals?

 

[Martin Everson]

The devil is in the details of the text when released. Might be allowances made‌ for smaller companies or it only applies to companies doing majority cross border business.

Imho it would be an infringement on sovereignty to have it apply to local businesses doing‍ majority local business 😕.

 

[troubled soul]

https://www.nytimes.com/2021/10/08/business/oecd-global-minimum-tax.html

• Kenya, Nigeria, Pakistan and Sri Lanka did not sign on to the agreement.
  
• New minimum tax rate would apply to companies with annual revenue of more than 750 million‌ euros ($866 million)+
  

 

[Martin Everson]

Ok so seems it will affect tax wise very large companies only.

 

[Fred]

Because of this UAE was signing within a blink of an eye.‍

It targets Amazon, Google etc.

And surprise surprise -- Ireland didn't signed 😉

 

[Martin Everson]

I thought Ireland‌ agreed to sign?

https://www.foxbusiness.com/politics/ireland-sign-global-tax-minimum-caving-pressure

 

[Fred]

Thanks for‌ the update - in the initial decisions they refused to sign - seems the EU‍ pressure was big.