Global Corporate Tax rate

[GoatLD259]

So world leaders have just agreed upon a global corporate tax rate of 15%, saying it will not affect small businesses. What else is in it, is that the corporation will not only pay taxes where their HQ is, but where they generate revenue. as stated in the articles I am referencing, Ireland's corporate tax rate is 12.5%, which has attracted lots of companies to establish their HQ's there.

World leaders reach landmark deal on a global corporate tax rate

The Organization for Economic Cooperation and Development on Friday announced a major breakthrough over corporate tax rates, after years of disagreement.

www.cnbc.com

Corporate Tax Rates Around the World, 2024

The worldwide average statutory corporate tax rate has consistently decreased since 1980 but has leveled off in recent years. In the US, the 2017 Tax Cuts and Jobs Act brought the country’s statutory corporate income tax rate from the fourth highest in the world closer to the middle of the...

taxfoundation.org

sigh....

Goat

 

[nso123]

My understanding of this global tax rate thing is that it’s being sold as a way to level the playing field so that certain countries do not have a more beneficial tax environment than others. We have to remember that the global socialists do not want equal opportunities for success though, they want equal outcomes, so we know there is nothing good to come from this.

 

[Jefe's Dope]

Nope.

 

[PinesAndProjectiles]

Small business won’t be affected. GTFOOHWTS.

 

[oneshot86]

Time to start hanging big shots

 

[RedrickLeen]

Yeah, how else to corner people...

 

[RedrickLeen]

Yeah, how else to corner people...

Well, I have two feelings about introducing a global corporate tax rate. From this decision, "the so-called "tax havens" will suffer - often, these are very small states. These countries will have to come up with something to remain attractive (for foreign investors and entrepreneurs). They may have to offer cheap labor, which is terrible. No one will respect the rights of ordinary workers, let alone give them a pay stub. On the other hand, this rate of 15% levels the odds. It will be harder for many companies to avoid paying taxes now.

 

[Scrumbag]

It's going to mainly hit Amazon, Google and other Tech Giants I think. Those guys pay little to no corporate tax.

And the EU is FURIOUS with Ireland for keeping their CT rate so low...

 

[EddieNFL]

Well, I have two feelings about introducing a global corporate tax rate. From this decision, "the so-called "tax havens" will suffer - often, these are very small states. These countries will have to come up with something to remain attractive (for foreign investors and entrepreneurs). They may have to offer cheap labor, which is terrible. No one will respect the rights of ordinary workers, let alone give them a pay stub. On the other hand, this rate of 15% levels the odds. It will be harder for many companies to avoid paying taxes now.

By "paying taxes," do you mean collect and forward?

 

[Stratguy]

I think it makes no sense to open an office in Ireland, even with a corporate tax of 12.5% there. It is more than likely to increase in a couple of years. I have run a small business for about 5 years and noticed how taxes increase yearly. I make tax receipts for all my employees through an online paystub maker, so I know what I'm talking about. It's best to make payment receipts online to avoid mistakes -- online payment receipts are made automatically.

 

[Alphatreedog]

Equals , the elitist need to steal more money . Fuck level playing field . Fuck equality . Pay me up yo . Yuz got a pocket , muh hanz like a rocket . Fiss full a dollas , elitist dey hollas . Wazzup yo , pay me up yo .
I have no shame and I've been drinking .

 

[W54/XM-388]

It's a bit of an oversimplification but essentially the big (usually USA based) global megacorporations have been very good at moving money around and playing lawyer games to essentially pay nothing in taxes while they rake in billions in profits.

Everybody is pissed from the politicians to the small local corporations that can't possibly compete with paying no taxes.

So big greedy corporations have only themselves to blame when they start whining about unfair new taxes.

 

[KZP]

Last I saw this plan is dead because Hungary is holding out again

Hungary under international pressure to back corporate tax deal

The U.S. and EU want Budapest to rejoin a global deal agreed last year but Hungary is pushing back

newseu.cgtn.com

 

[OldSalty2]

Good excuse for massive layoffs.

 

[PinesAndProjectiles]

I think it makes no sense to open an office in Ireland. At the same time, there is a corporate tax of 12.5%, which will soon rise to 15% there.

At six percent less than 21, it makes complete sense.

If your grossing a billion dollars, that six percent is $60M.

SIXTY MILLION DOLLARS is a lot of fucking money.

 

[Rthur]

Everybody that believes this will actually be implemented evenly stand on your head...

R

 

[Mostshooter]

Corporations do not pay taxes. YOU DO !! When big .gov has a potato in charge and supplies increase in price and throw in a manufactured employee shortages or a tax increase , you get an increase in price for there product. They basically have the same tax bill. you pay the extra.

 

[EddieNFL]

Everybody is pissed from the politicians to the small local corporations that can't possibly compete with paying no taxes.

Not all politicians are pissed.

 

[Vodoun daVinci]

I'm confused and always have been...my Corporations (I have owned 2 since 1982) have *never* paid any tax. This is because the Corps I own only pay tax on profits and there never is any of any consequence. If we get to the end of the 4th fiscal quarter and there is profit, it is distributed to the Shareholders as dividend and *they* pay tax on that as income. But the Corporation never show profit at the end of the year and thus is pays no tax.

Not sure who would own a Corporation and bank 100K or even 100 million as profit, pay tax on it, and then spend it/distribute what was left to it's stockholders, officers, etc. That would be pretty fucking dumb but apparently I and my Attorneys and Accountants are missing something serious here. Maybe some types of Corps in some countries pay tax on gross proceeds I guess.

Hope I don't end up in jail.

VooDoo

 

[W54/XM-388]

I'm confused and always have been...my Corporations (I have owned 2 since 1982) have *never* paid any tax. This is because the Corps I own only pay tax on profits and there never is any of any consequence. If we get to the end of the 4th fiscal quarter and there is profit, it is distributed to the Shareholders as dividend and *they* pay tax on that as income. But the Corporation never show profit at the end of the year and thus is pays no tax.

Not sure who would own a Corporation and bank 100K or even 100 million as profit, pay tax on it, and then spend it/distribute what was left to it's stockholders, officers, etc. That would be pretty fucking dumb but apparently I and my Attorneys and Accountants are missing something serious here. Maybe some types of Corps in some countries pay tax on gross proceeds I guess.

Hope I don't end up in jail.

VooDoo

You are running a different kind of corporation that was setup to funnel proceeds to the investors / principals / shareholders.

The big global megacorps are figuring out how to make huge profits, keep most of them so they have billions of dollars in assets and banks, but not pay any tax on those profits.

Do a bit of research sometime on Google, Facebook, Amazon, Apple and their very elaborate multi continent tax avoidance schemes and you'll get and understanding of what is going on.

 

[EddieNFL]

You are running a different kind of corporation that was setup to funnel proceeds to the investors / principals / shareholders.

The big global megacorps are figuring out how to make huge profits, keep most of them so they have billions of dollars in assets and banks, but not pay any tax on those profits.

Do a bit of research sometime on Google, Facebook, Amazon, Apple and their very elaborate multi continent tax avoidance schemes and you'll get and understanding of what is going on.

Are these schemes illegal under current law?

 

[W54/XM-388]

Are these schemes illegal under current law?

How about you hit the search engines and get yourself an education on how it all works.
If you don't have a clue about it right now, it's going to be hard to explain it short order.

 

[Charger442]

I'm confused and always have been...my Corporations (I have owned 2 since 1982) have *never* paid any tax. This is because the Corps I own only pay tax on profits and there never is any of any consequence. If we get to the end of the 4th fiscal quarter and there is profit, it is distributed to the Shareholders as dividend and *they* pay tax on that as income. But the Corporation never show profit at the end of the year and thus is pays no tax.

Not sure who would own a Corporation and bank 100K or even 100 million as profit, pay tax on it, and then spend it/distribute what was left to it's stockholders, officers, etc. That would be pretty fucking dumb but apparently I and my Attorneys and Accountants are missing something serious here. Maybe some types of Corps in some countries pay tax on gross proceeds I guess.

Hope I don't end up in jail.

VooDoo

you're likely small enough that you can do that. and its going to depend on the type of company. Corporations are going to need to keep a certain amount of capital, that is profit so they can continue to operate into the next calendar year. all kinds of different BS for S corp vs C corp and accounting using accrual versus cash.

but yes, what you are doing is very common. i dont think it works like that with multi-billion dollar corps that need to have a pile of money for cap expenditures, wages, re-investment, etc.

 

[EddieNFL]

How about you hit the search engines and get yourself an education on how it all works.
If you don't have a clue about it right now, it's going to be hard to explain it short order.

Not that interested, but sounds like a yes.

 

[softcock]

So world leaders have just agreed upon a global corporate tax rate of 15%, saying it will not affect small businesses. What else is in it, is that the corporation will not only pay taxes where their HQ is, but where they generate revenue. as stated in the articles I am referencing, Ireland's corporate tax rate is 12.5%, which has attracted lots of companies to establish their HQ's there.

World leaders reach landmark deal on a global corporate tax rate

The Organization for Economic Cooperation and Development on Friday announced a major breakthrough over corporate tax rates, after years of disagreement.

www.cnbc.com

Corporate Tax Rates Around the World, 2024

The worldwide average statutory corporate tax rate has consistently decreased since 1980 but has leveled off in recent years. In the US, the 2017 Tax Cuts and Jobs Act brought the country’s statutory corporate income tax rate from the fourth highest in the world closer to the middle of the...

taxfoundation.org

sigh....

Goat

Global corp. tax rate .... lolhahahaha . . if it blooms to reality ??? , going to be some Pissed Off people working the ( internationally Gov. agreed upon ) Cayman Islands Scam ? , tax haven, 5th richest country in the word, Less than 70,000 population, with twice as many Corps. registered than inhabitants, a couple Trillion passing threw there annually, and 7th largest holder of US Gov. debt .
.

 

[W54/XM-388]

Global corp. tax rate .... lolhahahaha . . if it blooms to reality ??? , going to be some Pissed Off people working the ( internationally Gov. agreed upon ) Cayman Islands Scam ? , tax haven, 5th richest country in the word, Less than 70,000 population, with twice as many Corps. registered than inhabitants, a couple Trillion passing threw there annually, and 7th largest holder of US Gov. debt .
.

I'd say nuke the Cayman Islands just out of spite.
Watch the rich scramble to figure out where to get their money back from.

 

[rtB]

I think the trick is pretty simple for a lot of these global companies. They set up a separate business entity in the Cayman Islands or other tax haven. They then -shift- ownership of their intellectual property to this new entity, with the IP "licensed back" to the original company. Then the Business Units in EU, Asia, US etc all pay "royalties" to this entity for use of the IP. Thus all the "profit" is sucked out of the other entities before any tax is paid.