Global Tax




Globalisation isn't just about Profits - it's about Taxes too
- Joseph Stiglitz: LINK ¤ the GUARDIAN

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  • "Apple, like Google"

 

 

 

 

 

 

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  • "has benefited enormously from what the US and other western governments provide"

 

 

 

 

 

 

 

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  • "highly educated workers trained in universities"

 

 

 

 

 

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  • "that are supported both directly by government and indirectly (through generous charitable deductions)"

 

 

 

 

 

 

 

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  • "the basic research on which their products rest was paid for by taxpayer-supported developments"

 

 

 

 

 

 

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  • "and the Internet, without which they couldn't exist"

 

 

 

 

 

 

 

 

 

 

 

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  • "their prosperity depends in part on our legal system"

 

 

 

 

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  • "including strong enforcement of intellectual property rights"

 

 

 

 

 

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  • "they asked (and got) government to force countries around the world"

 

 

 

 

 

 

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  • "to adopt our standards"

 

 

 

 

 

 

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  • "at great costs to the lives and development of those in emerging markets and developing countries"

 

 

 

 

 

 

 

 

 

 

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  • "we have an unmanageable, unfair"

 

 

 

 

 

 

 

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  • "distortionary global tax regime"

 

 

 

 

 

 

 

 

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  • "it is a tax system that is pivotal in creating the increasing inequality that marks most advanced countries today"

 

 

 

 

 

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  • "with America standing out in the forefront and the UK not far behind"

 

 

 

 

 

 

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  • "it is the starving of the public sector which has been pivotal in America"

 

 

 

 

 

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  • "no longer being the land of opportunity"

 

 

 

 

 

 

 

 

 

 

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  • "these international corporations"

 

 

 

 

 

 

 

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  • "are the big beneficiaries of globalisation"

 

 

 

 

 

 

 

 

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  • "the average American worker and those in many other countries"

 

 

 

 

 

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  • "under the pressure from globalisation, has seen his income fully adjusted for inflation"

 

 

 

 

 

 

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  • "to the point where a fulltime male worker in the US has an income lower than four decades ago"

 

 

 

 

 

 

 

 

 

 

 

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  • "our multinationals have learned how to exploit globalisation"

 

 

 

 

 

 

 

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  • "in every sense of the term"

 

 

 

 

 

 

 

 

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  • "including exploiting the tax loopholes"

 

 

 

 

 

 

 

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  • "trying to evade their global social responsibilities"

 

 

 

 

 

 

 

 

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  • "the US could not have a functioning corporate income tax system"

 

 

 

 

 

 

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  • "if we had elected to have a transfer price system"

 

 

 

 

 

 

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  • "where firms "make up" the prices of goods and services that one part buys from another"

 

 

 

 

 

 

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  • "allowing profits to be booked to one state or another"

 

 

 

 

 

 

 

 

 

 

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  • "it would be therefore good, if there is an"

 

 

 

 

 

 

 

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  • "international agreement on the taxation of corporate profits"

 

 

 

 

 

 

 

 

 

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  • "the US by itself can go a long way to moving reform along:"

 

 

 

 

 

 

 

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  • "any firm selling goods there"

 

 

 

 

 

 

 

 

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  • "can be obliged to pay a tax on its global profits"

 

 

 

 

 

 

 

 

 

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  • "say at a rate of 30%"

 

 

 

 

 

 

 

 

 

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  • "based on the consolidated balance sheet"

 

 

 

 

 

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  • "with a deduction for corporate profits taxes paid in other jurisdictions (up to some limit)"

 

 

 

 

 

 

 

 

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  • "in other words, the US would set itself up as enforcing"

 

 

 

 

 

 

 

 

 

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  • "a global minimum tax regime"

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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WORLD TAXATION SYSTEM
- Wikipedia EN: LINK ¤ WORLD TAXATION SYSTEM

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  • "a world taxation system or global tax is a system for the collection of taxes - as a means of compelling institutions to pay, rather than avoid, taxes"

 

 

 

 

 

 

 

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financial transaction tax
:

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  • "conservative estimates show the tax could yield from US$ 150 - 300 billion annually"

 

 

 

 

 

 

 

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  • "the UN estimates that the cost of wiping out the worst forms of poverty and environmental destruction globally"

 

 

 

 

 

 

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  • "would be around US$ 225 billion per year"

 

 

 

 

 

 

 

 

 

 

 

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bank taxes

 

 

 

 

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sales taxes

 

 

 

 

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tax on global profits





 

 

 

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global wealth tax
:

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  • "a global wealth tax of 1% on all wealth"

 

 

 

 

 

 

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  • "including individual assets exceeding about US$ 1 million (including stocks and bonds)"

 

 

 

 

 

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  • "and all publicly listed companies and all trusts"

 

 

 

 

 

 

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  • "would raise at least US$ 600 billion per year"

 

 

 

 

 

 

 

 

 

 

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  • "half of that amount, 300 billion per year, corresponds to the total developmental budget goal"

 

 

 

 

 

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  • "of 0.7% GNP of industrialised countries"

 

 

 

 

 

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  • "which would enable poorer countries cross the threshold of economic competitivity in 15-20 years"

 

 

 

 

 

 

 

 

 

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  • "300 billion per year would also be necessary to limit global warming to +2 degrees Celsius"

 

 

 

 

 

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  • "strategies to slow global warming include renewable energy research"

 

 

 

 

 

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  • "reducing greenhouse gas emissions, and reforestation (and preventing deforestation)"

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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global tax - 1521GT
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