- 21 Jan 2020 19:48
#15060762
"Since the early twentieth century, countries have largely agreed on how to tax income earned by multinational corporations that conduct business across borders. But this long-standing regime is coming apart, imperiling the broader international economic order... The regime rests on the norms set in domestic tax laws as well as a patchwork of almost 4,000 bilateral treaties.
The Internet and advances in telecommunications have smoothed the way for businesses to participate meaningfully in the economic lives of countries where they have no physical presence...As a result, a century-old consensus on how to manage international taxation has eroded, with potentially far-reaching consequences.
As the leading multilateral institution in international corporate tax matters, the OECD has convened 135 countries in an attempt to defy the global economic zeitgeist by reaching a multilateral agreement that would renovate the international tax regime."
The last time we had a big wave of protectionism, it resulted in a world war.
Just sayin'..
https://www.foreignaffairs.com/articles/united-states/2020-01-17/looming-tax-war
The Internet and advances in telecommunications have smoothed the way for businesses to participate meaningfully in the economic lives of countries where they have no physical presence...As a result, a century-old consensus on how to manage international taxation has eroded, with potentially far-reaching consequences.
As the leading multilateral institution in international corporate tax matters, the OECD has convened 135 countries in an attempt to defy the global economic zeitgeist by reaching a multilateral agreement that would renovate the international tax regime."
The last time we had a big wave of protectionism, it resulted in a world war.
Just sayin'..
https://www.foreignaffairs.com/articles/united-states/2020-01-17/looming-tax-war
Facts have a well known liberal bias