The German parliament on Friday approved the implementation of a global minimum corporate tax, as part of an international deal to ensure large companies pay a minimum tax rate of 15%.

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.

  • fiat_lux@kbin.social
    28·
    11 months ago

    This is great in theory, but many companies just redirect actual profits back into “expenses” like donations, bonuses, consultancy fees, etc. Whatever writes off more taxes.

    This will apply to all such companies and large-scale domestic groups with turnover above 750 million euros ($800 million) per year.

    Yeah, OK. If they’re doing that kind of turnover the business most certainly has an accounting department and financial “strategy” in place. If Germany wanted to make it real they would have approached it like GDPR fines where it is based on global revenue, not profits.

    This looks like political theater to me, and the unanimous party support seems to back that theory, but i don’t have enough German ability or the desire to dig further.

    • iHUNTcriminals@lemm.ee
      2·
      11 months ago

      All nations are a sham. The new world is coming! Be part of the change for the natural flag of humanity as a whole.