20 Matching Annotations
  1. Nov 2020
    1. The Trump administration resisted efforts to compel them to pay taxes where they do business rather than in tax havens, regarding this as a grab for the profits of American companies

      Is it true?

    Created with Sketch. Visit annotations in context

    Created with Sketch. Tags

    Created with Sketch. Annotators

    Created with Sketch. URL

  2. Sep 2020
    1. The same principle applies to digital taxation. We will spare no effort to reach agreement in the framework of OECD and G20. But let there be no doubt: should an agreement fall short of a fair tax system that provides long-term sustainable revenues, Europe will come forward with a proposal early next year.

      if no deal, EU's digital taxation regulation early next year

    Created with Sketch. Visit annotations in context

    Created with Sketch. Tags

    Created with Sketch. Annotators

    Created with Sketch. URL

  3. Jun 2020
    1. As tax revenues from other sectors plummet and digital giant’s own revenues and power soar, these companies have an obligation to contribute back to society.

      Jovan made this argument two years ago in predictions

    2. For example, in Europe

      Good example of a company's (Amazon) tax situation in Europe

    3. And it is time that their companies pay their share of recovery.

      We know that. Not a question of if, but how

    4. When even a country the size of France is forced to backtrack,

      Old update - ignore link. France, UK, Italy and Spain have proposed a first-phase approach now

    Created with Sketch. Visit annotations in context

    Created with Sketch. Tags

    Created with Sketch. Annotators

    Created with Sketch. URL

    1. Attempting to rush such difficult negotiations is a distraction from far more important matters

      COVID-19 is precisely why some countries are rushing. Thehy need a financial injection

    Created with Sketch. Visit annotations in context

    Created with Sketch. Tags

    Created with Sketch. Annotators

    Created with Sketch. URL

    1. Absent a multilateral solution, more countries will take unilateral measures and those that have them already may no longer continue to hold them back. This, in turn, would trigger tax disputes and, inevitably, heightened trade tensions

      Risks from failure to reach common agreement:

      1. Unilateral measures, esp. by hard-struck countries
      2. Tax disputes
      3. Trade tensions
    Created with Sketch. Visit annotations in context

    Created with Sketch. Tags

    Created with Sketch. Annotators

    Created with Sketch. URL

    1. wasn’t a concession to Washington

      Ha! Of course it is

    2. automated digital services companies

      It will be ironic if the USA resumes negotiations on this limited phased approach, after they've been arguing they want digital taxation to tackle digitalisation in the broadest possible sense (ie to include companies affected by digitalisation even if strictly speaking they do not offer digital services like GAFA). It would actually confirm how their arguments were meant to delay negotiations

    3. consumer-facing businesses, that sell goods and services

      Apple, Microsoft - These will not be affected by this phased approach - for now. This could mean that these are the companies which the USA wants to protect, which is strange, since this group includes Amazon - and Trump is not exactly a fan of Amazon

    4. online search engines and social media platforms

      Google, Facebook - The phased approach will capture these companies

    Created with Sketch. Visit annotations in context

    Created with Sketch. Tags

    Created with Sketch. Annotators

    Created with Sketch. URL

    1. US Trade representative Robert Lighthizer launched this month investigations to determine whether digital services taxes being adopted or considered by 10 parties – Austria, Brazil, the Czech Republic, the EU, India, Indonesia, Italy, Spain, Turkey and Britain – amounted to unfair trade practices. If his inquest finds that they do, then the US government could impose new tariffs.

      In parallel, USA investigating go-it-alone EU countries' tax plans

    2. “We are not legislating to damage the interest of other countries,” Montero continued. “We are legislating so that our tax system is orderly, fair and adapted to current circumstances.”

      Rebuttal from Span. Fair argument

    3. “But if that proves impossible this year, we have been clear that we will come forward with a new proposal at EU level,” he said.

      What if OECD fails by 2020?

    4. The US Administration sent a letter first reported by the Financial Times to France, Italy, Spain and the UK informing them that Washington will withdraw from the Organisation of Economic Co-operation and Development-led efforts to agree on a new tax on digital services provided by companies like Google, Facebook and Amazon. 

      Letter was sent to the 4 countries who are pushing for the digital tax, with or without OECD/EU

    Created with Sketch. Visit annotations in context

    Created with Sketch. Tags

    Created with Sketch. Annotators

    Created with Sketch. URL

    1. “The US is clearly signalling that they would prefer the elections to be over,” he told AFP.

      Is this the reason for USA's delay?

    2. workable draft deal

      OECD's 2020 plans

    3. OECD’s two-pillar approach is the right one,” Gentiloni said. The “pillars” refer to the two key issues at stake in the talks: how to tax firms that governments do not tax currently even though the firm operates in their countries, and how to ensure that each country gets a fair portion of a multinational’s taxes

      OECD's approach in a nutshell

    4. certain sides and certain industries

      USA: again, very wide approach

    Created with Sketch. Visit annotations in context

    Created with Sketch. Tags

    Created with Sketch. Annotators

    Created with Sketch. URL