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There's fantastic concept called competition. If country can do with less money it might attract more businesses. This pushes others to improve their operation
by jiriknesl 4y ago
There's fantastic concept called competition.
If country can do with less money it might attract more businesses. This pushes others to improve their operations too. Global tax minimums remove or soften this incentive which is a bad thing. Most governments are not efficient already and this will not help.
- ohgodplsno 4y agoThere's a fantastic concept called racing to the bottom. Small countries can afford to be tax havens because even getting 1% of a multibillion company covers their needs well enough. Meanwhile, the country housing the thousands of workers, damaging roads, using infrastructure, healthcare, etc, get nothing. Global tax minimums are the only way we have a society that keeps functioning.
- yodsanklai 4y ago> There's fantastic concept called competition. This isn't what is at play in the case of tax havens.
- lm28469 4y agoWhat you call competition other might call race to the bottom. It doesn't take a genius to see the problem either, look at companies like airbnb who barely pay any tax in countries they operate in because technically they just have a "customer service office" in said country while the money is moved to Luxembourg, Ireland, &c.