Could It Be True?

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Following on from yesterday's post: do my eyes and ears deceive? Has the OECD really pulled off the coup that we've been hoping would happen for the last decade or two? On the surface it looks like the realisation that global corporates are out of control and need to be brought in line with the rest of the business world has finally got through and something is actually being done about it. This ambitious multi-governmental move purports to be moving towards the demise of tax-havens, and to the enforcement of corporate taxation across multiple national domains.

Whether this is genuine progress or just lip-service, only time will tell: I'll be looking for more flesh on the bones of the story over the next few days. I do hope it's not just smoke and mirrors, as the world really does need a reset on big business and taxation: we were taken totally by surprise by the speed of the rise of tech and the internet; and like all disruptive periods in history, a small number of individuals and companies have taken unfair advantage of the interregnum between realisation and regulation. Could the current Gold Rush be over? We'll see... [apologies to The Guardian for lifting their graphic]

Comments

  1. Joe Stoner9 October 2021 at 20:19

    They've made it apply to only the HUGE multi-nationals, T/O>$600mill from memory.
    They will fight/evolve & use their VAST resources to cry foul. IF it was ALL companies, there would be less of an excuse for them.
    It's JUST a feeding frenzy for My Lunned friends!!
    ATB
    Joe

    ReplyDelete
    Replies
    1. sideways9 October 2021 at 21:04

      It's at least a start - and it's the huge companies that are the biggest problem - small companies need a break, as we well know form experience...

      Delete
    2. Joe Stoner10 October 2021 at 14:05

      No mate! You mistake SME (& A5AV Ltd., was one of the smallest!) and "small" multi-nationals as in less than $600million T/O.
      They're taking on the BIG boys deliberately for it to develop into a HUGE fight with the lawyers & suits taking YEARS to feed off the funds that should have gone into tax before they acquiesce.
      I suspect that one of the tactics they'll employ is to split up their big names into smaller units with just one HUGE unit to defend their IPR which will become SO expensive that they duck below the $600mill.
      It could be a good'un in the case of FaceBuck who NEED to be split up!!:)

      Delete

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