Agreement finalised by the OECD waters down a landmark 2021 deal that set a minimum global corporate tax of 15%
Nearly 150 countries have agreed on a landmark plan to stop large global companies shifting profits to low-tax jurisdictions, but the US will be exempt from the deal, angering tax transparency groups.
The plan, finalised by the Organisation for Economic Cooperation and Development, excludes large US-based multinational corporations from the 15% global minimum tax after negotiations between the Trump administration and other members of the G7.
Tax transparency groups have criticised the amended OECD plan.
“This deal risks nearly a decade of global progress on corporate taxation only to allow the largest, most profitable American companies to keep parking profits in tax havens,” said Zorka Milin, policy director at the Fact Coalition, a tax transparency nonprofit.
The blatant corruption of the Trump regime continues unabated.
“Rules for thee but not for me”
or more focused, the Wilhoit’s law:
“Conservatism consists of exactly one proposition, to wit: There must be in-groups whom the law protects but does not bind, alongside out-groups whom the law binds but does not protect.”
Tariffs on the US then. We’ll start at 300%
Why‽ We don’t deserve or need a competitive advantage here. Mostly deserve.
I don’t think this is helping us at all. It’s letting our own corporations go elsewhere for lower taxation. It helps their investors. And Ireland or wherever their tax havens are now is probably pretty happy.
