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China’s tax rate is considerably higher than 15% and they also don’t want their industries to be competing against companies who are cheating the tax man.
by peteretep 5y ago
China’s tax rate is considerably higher than 15% and they also don’t want their industries to be competing against companies who are cheating the tax man.
- ajkdhcb2 5y agoI just wanted to show how silly is sounds that some ally countries think they can enforce actions on other countries
- seoaeu 5y agoIsn't the literal definition of 'allies' a group of countries which pool their military resources to compel other countries to act how they want? I don't see the contradiction
- Schlaefer 5y agoThis happens all the time, see e.g.: https://en.wikipedia.org/wiki/Brussels_effect https://en.wikipedia.org/wiki/Brussels_effect Of course you're free to ignore it, if you don't care about hundreds of million potential customers.
- ajkdhcb2 5y agoIt links to the opposing effect too: https://en.wikipedia.org/wiki/Race_to_the_bottom https://en.wikipedia.org/wiki/Race_to_the_bottom So it isn't that simple when it is something like this. So far history shows that tax havens work and the loop-holes are very challenging to close.
- Schlaefer 5y agoThis legislation is directly aimed at preventing a race to the bottom, because societies (represented by their governments) realized that they are getting played by extranational entities if they act alone.