3 ms·
It will also massively increase the complexity of doing taxes for smaller businesses. It wouldn't surprise me if it lead to even more websites going "sorry, we
by Aerroon 5y ago
It will also massively increase the complexity of doing taxes for smaller businesses. It wouldn't surprise me if it lead to even more websites going "sorry, we value customers from your country, but we cannot serve this content to you".
Imagine running a small business and somebody from Algeria wishes to purchase your software. Is the $5 you make worth having to file Algerian taxes?
I mention this, because this is something that happened with YouTube this month. Content creators have to give their tax info to YouTube because the US is now charging taxes from creators outside the US on money they made on US customers.
Edit: as was pointed out - there's a minimum $10 million threshold. That makes it far more reasonable.
- jedberg 5y agoPart of the agreement is that you have to have $10M in profit in that country before the rules apply. So that would never happen. You’d have to make a ton of money there before you have to file taxes. And it’ll be worth it by then.
- Aerroon 5y agoAh, I missed that part. You're right in that case! I'm just so used to the EU coming up with new rules without reasonable exemptions that I assumed the same here. It's my mistake!
- StandardFuture 5y ago> you have to have $10M in profit Sorry, I missed where this was mentioned in the article. Can you supply a link to the reference if it is not in the article? I did see the following quote: > The rules on making multinationals pay taxes where they operate - known as "pillar one" of the agreement - would apply to global companies with at least a 10% profit margin. which is not equivalent to your comment.