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Germany approves global minimum corporate tax (www.reuters.com)

submitted 2 years ago by sqgl@beehaw.org to c/news@beehaw.org

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Multinational firms will have to pay a minimum of 15% tax on all of the profits they make worldwide, regardless of where the profits are generated.

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[–] OnionQuest@lemmy.ml 8 points 2 years ago (1 children)

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.

[–] CrimeDad@lemmy.crimedad.work 2 points 2 years ago

Hmmm makes me question the benefit of the WTO.