this post was submitted on 11 Nov 2023

232 points (99.2% liked)

World News

38977 readers

3512 users here now

A community for discussing events around the World

Rules:

Rule 1: posts have the following requirements:
- Post news articles only
- Video links are NOT articles and will be removed.
- Title must match the article headline
- Not United States Internal News
- Recent (Past 30 Days)
- Screenshots/links to other social media sites (Twitter/X/Facebook/Youtube/reddit, etc.) are explicitly forbidden, as are link shorteners.
Rule 2: Do not copy the entire article into your post. The key points in 1-2 paragraphs is allowed (even encouraged!), but large segments of articles posted in the body will result in the post being removed. If you have to stop and think "Is this fair use?", it probably isn't. Archive links, especially the ones created on link submission, are absolutely allowed but those that avoid paywalls are not.
Rule 3: Opinions articles, or Articles based on misinformation/propaganda may be removed. Sources that have a Low or Very Low factual reporting rating or MBFC Credibility Rating may be removed.
Rule 4: Posts or comments that are homophobic, transphobic, racist, sexist, anti-religious, or ableist will be removed. “Ironic” prejudice is just prejudiced.
Posts and comments must abide by the lemmy.world terms of service UPDATED AS OF 10/19
Rule 5: Keep it civil. It's OK to say the subject of an article is behaving like a (pejorative, pejorative). It's NOT OK to say another USER is (pejorative). Strong language is fine, just not directed at other members. Engage in good-faith and with respect! This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.

Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.

Rule 6: Memes, spam, other low effort posting, reposts, misinformation, advocating violence, off-topic, trolling, offensive, regarding the moderators or meta in content may be removed at any time.
Rule 7: We didn't USED to need a rule about how many posts one could make in a day, then someone posted NINETEEN articles in a single day. Not comments, FULL ARTICLES. If you're posting more than say, 10 or so, consider going outside and touching grass. We reserve the right to limit over-posting so a single user does not dominate the front page.

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.

Lemmy World Partners

News [email protected]

Politics [email protected]

World Politics [email protected]

Recommendations

How to spot Misinformation and Propaganda

For Firefox users, there is media bias / propaganda / fact check plugin.

https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

Consider including the article’s mediabiasfactcheck.com/ link

founded 1 year ago

MODERATORS

232

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

submitted 11 months ago by alphacyberranger to c/world

12 comments fedilink hide all child comments

top 12 comments

sorted by: hot top controversial new old

[–] [email protected] 12 points 11 months ago

This is the best summary I could come up with:

BERLIN, Nov 10 (Reuters) - 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%.

In 2021 almost 140 countries agreed to an Organisation for Economic Cooperation and Development deal they are meant to implement from next year to prevent big companies like Alphabet's Google (GOOGL.O) or Amazon (AMZN.O) avoiding taxation by transferring profits to low-tax countries.

The increase is expected to raise $220 billion globally for governments strapped for cash after the COVID-19 pandemic and struggling to ride out a cost-of-living crisis, although the ratification process has hit hurdles in various countries.

Last December the European Union member states agreed on a common directive to ensure uniform implementation of the tax within the EU, and that directive must be passed into national law in all EU countries by the end of the year.

The Ministry of Finance estimated earlier this year that additional tax revenue of 910 million euros could be expected in Germany from 2026.

In 2027 and 2028, the tax is forecast to bring in 535 and 285 million euros, respectively.

The original article contains 264 words, the summary contains 195 words. Saved 26%. I'm a bot and I'm open source!

[+] [email protected] -14 points 11 months ago (3 children)

So in the future several enterprises will move to neighbouring countries like Poland or Czech Republic with less strict regulations?

[–] [email protected] 25 points 11 months ago

An important point of this deal, is that Germany can now collect taxes on profits made elsewhere. If Poland collects 10% tax, then Germany can collect the remaining 5%.

This means that governments aren't competing for businesses anymore. Instead they are fighting amongst each other to figure out who is allowed which share of the newly found bounty.

[–] [email protected] 17 points 11 months ago (2 children)

Sure till they run out of those, then they'll go to space stations and artificial islands

[–] SuperJetShoes 12 points 11 months ago (2 children)

It'll be interesting to watch someone establish a bank in a space station.

Inevitable, probably.

[–] [email protected] 7 points 11 months ago

Yes sir we charge a nominal monthly fee to keep your account active when there is less than $2000 of deposits per month.

Oh, you'd like to close your account? No problem, unfortunately we can't do that over the phone but we'd be happy to help you with that in person at our head office in LEO.

[–] Selmafudd 3 points 11 months ago

Inevitably followed by space pirates..

[–] [email protected] 0 points 11 months ago (1 children)

I hope there are measures to prevent exploitative delocalization. Did they think about it?

[–] [email protected] 11 points 11 months ago (1 children)

If you do business there they can tax you... companies are free to profit exclusively off the citizens of the Cayman Islands if that's their choice.

[–] [email protected] 4 points 11 months ago

exactly. I think all countries to impose a corp tax on their total profits and the corps can deduct any tax they pay somewhere else (if its not reinbursed or some other shenanigan shit) with a minimum of having to pay the percent for all bussiness done in that country. great side effect is it would stop the race to the bottom.

[–] [email protected] -2 points 11 months ago* (last edited 11 months ago) (1 children)

It'll be interesting to see how Google does when it voluntarily ceases doing business in the EU.

[–] ozymandias117 2 points 11 months ago

There’s no chance. 30% of their revenue comes from EMEA

It might be cheaper to pay fines than taxes, though