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Germany approves global minimum corporate tax
(www.reuters.com)
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this post was submitted on 11 Nov 2023
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Seems kind of complicated to me. Why don't countries just unilaterally put tarriffs on imports from countries with (corporate) income taxes that are too low, as well as countries that don't also have similar tariffs?
Global tax is complicated. A reprisal tariff regime would be way way way more complicated. The US doesn't want to be in a position where it's levying 50% tariffs on Guinness because Ireland's corporate tax rate is 12.5%. How do you know that tariff is fair and would the WTO even recognize uneven tax rates as a sanctionable offense?
This is a carrot vs stick approach.
Hmmm makes me question the benefit of the WTO.