Bargaining over global tax enters key stage

What are they going to do with the money?

It is one of two pillars of reforms that would also allow countries to tax a share of profits of the 100 most profitable companies in the world -- such as Google, Facebook and Apple -- regardless of where they are based.

Why base it on this metric? The wealthy, especially international financial interests, have shown they are able to keep their wealth in forms that do not show up as "profit": collateralized debt, stock options, property. Bezos and even Trump are textbook examples of this.

It smacks of "old money"; Wall Street,Zurich, City of London banking maneuvering against the tech "noveau riche".

What are they going to do with the money?

Keep the underclass from rising up, I suppose.

I am still sceptical that this plan will be agreed and, if it is, that it can be made to,work.

pay their fair share.

What does this even mean?

The central planners of the world have gone completely overboard here, when did this nonsense ever get subjected to an actual democratic vote in any country? You’d think the democratic countries at least would mostly have had debates about this, but I don’t recall it ever being discussed.

Bad news for all the tax havens around the world.

It's not that wild to believe that many countries are in "debt" due to covid, or at least the spending has increased or could use more funds. But of course accountability and allocation would be a big question mark for the tax funds.

Fortunately a minimum of 15% is somewhat low for most, depending on what the tax base is.

But it would be bad news if they in future go crazy and hike the tax rate, reducing revenues. It’s the sort of dopey thing populist politicians might do to get themselves elected.

Still I can’t see this tax cartel idea going the distance.