October 13, 2021

Fast Company: Is the Global Minimum Tax Enough?

media mention

The result of many months of negotiations, the decision means companies doing business abroad will have to pay a minimum tax of 15% on their overseas profits, leaving little advantage to continue various “accounting gimmicks” currently in play, says Steve Wamhoff, director of federal tax policy at the Institute on Taxation and Economic Policy (ITEP), a nonprofit, nonpartisan think tank. Ireland, for instance, has enticed Big Tech businesses to its shores, creating jobs and investment, but it has also allowed companies like Google to move its money through Ireland, and then through countries like Bermuda, to reduce its tax burdens. Read more