G7 - Global Minimum Corporate Tax Rate of 15%
Abstract
The additional tax on profits of international companies that participate in controlled transactions appears to be consistent with the transition from an arm's length to a fixed tax principle. The largest and most profitable international corporations will be taxed at a flat rate. Except for high-tech companies, which should pay lower taxes, the current decision appears to be consistent with the theory of cycle of money (or money cycle).
Keywords
Full Text:
PDFReferences
Challoumis, C. (2019). Transfer Pricing Methods for Services and the Policy of Fixed Length Principle. Economics and Business, 33(1), 222–232. Retrieved from https://doi.org/https://doi.org/10.2478/eb-2019-0016.
Challoumis, C. (2020). Analysis of the Theory of Cycle of Money. Acta Universitatis Bohemiae Meridionalis, 23(2), 13–29. Retrieved from https://doi.org/https://doi.org/10.2478/acta-2020-0004.
Challoumis, C. (2021). The cycle of money with and without the enforcement savings. Complex System Research Centre.
Challoumis, C. (2022). Index of the cycle of money - the case of Poland. Research Papers in Economics and Finance, 6(1).
Commission, E. (2021). Taxation and Customs Union. Retrieved from https://ec.europa.eu/taxation_customs/business/company-tax/transfer-pricing-eu-context_en#:~:text=According to international standards individual,made or imposed between ...
Engström, G., Gars, J., Jaakkola, N., Lindahl, T., Spiro, D., & van Benthem, A. A. (2020). What Policies Address Both the Coronavirus Crisis and the Climate Crisis? Environmental and Resource Economics, 76(4). Retrieved from https://doi.org/10.1007/s10640-020-00451-y.
Feinschreiber, R. (2004). Transfer pricing Methods An Application Guide. New Jersey: John Wiley & Sons.
Herrington, C. M. (2015). Public education financing, earnings inequality, and intergenerational mobility. Review of Economic Dynamics, 18(4). Retrieved from https://doi.org/10.1016/j.red.2015.07.006.
Marenco, A., Strohschoen, M. T. B., & Joner, W. (2017). Capacidade estatal, burocracia e tributação nos municípios brasileiros. Revista de Sociologia e Politica, 25(64). Retrieved from https://doi.org/10.1590/1678-987317256401.
Meyer D., W. V. (2021). ‘Far too low’: Tax justice campaigners push back against the G7’s 15% minimum tax-rate pact. Fortune. Retrieved from https://fortune.com/2021/06/07/global-minimum-corporate-tax-rate-g7-15-percent-pact/.
Naudé, W., & Dimitri, N. (2020). The race for an artificial general intelligence: implications for public policy. AI and Society, 35(2). Retrieved from https://doi.org/10.1007/s00146-019-00887-x.
Rolle, G. (2012). Arm’s length principle and EU law. Jean Monnet Roundtable. Retrieved from https://limo.libis.be/primo-explore/fulldisplay?docid=LIRIAS1844422&context=L&vid=Lirias&search_scope=Lirias&tab=default_tab〈=en_US&fromSitemap=1.
Taylor, C. (2021). US makes new offer on setting global minimum corporate tax rate at 15%. Retrieved from https://www.irishtimes.com/business/economy/g7-agreement-means-ireland-s-12-5-per-cent-corporate-tax-rate-is-under-threat-1.4586043.
Viegas M., D. A. (2021). Country-by-Country Reporting: A Step Towards Unitary Taxation? Intereconomics, 56(3), 167–173. Retrieved from https://doi.org/10.1007/s10272-021-0974-9.
DOI: http://dx.doi.org/10.18415/ijmmu.v10i7.4767
Refbacks
- There are currently no refbacks.
Copyright (c) 2023 International Journal of Multicultural and Multireligious Understanding
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
https://ijmmu.com
editor@ijmmu.com
facebook.com/ijmmu
Copyright © 2014-2018 IJMMU. All rights reserved.