How would you feel about paying 15% more for your online goods?

[Ice Tea]

https://www.bbc.co.uk/news/business-57349803

Rich nations 'millimetre away' from tech tax deal

Companies like Amazon are not going to take 15% less profit...

 

[Reality|Bites]

We would moan for a while then it would become the norm once we all got old and died off?

 

[clv101]

This is a fundamentally good move - and it absolutely does not translate into Amazon adding 15% to their prices!

 

[Pawnless Endgame]

eBay.
Etsy.
Gumtree.
Facebook.
World of Warcraft auction house.

There will always be somewhere

 

[gpuerrilla]

I thought we already were paying 15% more on online goods...

 

[Tefal]

I'd rather the bricks and mortar shops die tbh :_

 

[413x]

Fine. We need to pay more tax one way or another

Without bricks and mortar there will be a massive shortfall in government income.

 

[Reality|Bites]

a less jobs to go around, less need for low end jobs such as cleaners etc...it's not a good thing in the grand scheme.

 

[Steeps]

That's going to work, 15% tax to replace a 12.5% tax already in place as the lowest tax level, yet the Internet giants are currently paying no tax in the country where the lowest level is 12.5%, they will continue to pay no tax.

 

[Caracus2k]

It doesn't matter what corporation tax rate is if companies deliberately arrange their businesses practices so they make no profit or make a loss

Amazon had sales income of €44bn in Europe in 2020 but paid no corporation tax

Despite lockdown surge the firm’s Luxembourg unit made a €1.2bn loss and therefore paid zero corporation tax

 

[GreatAuk]

This is great news, it will probably bring in about £12.86 which can be put towards fixing a sixth of a pothole somewhere in the country.

 

[Raiden85]

So 15% more on top of the 20% VAT we already pay! They can sod off as the companies will be passing that on.

 

[200sols]

It doesn't matter what corporation tax rate is if companies deliberately arrange their businesses practices so they make no profit or make a loss

Crazy

https://www.theguardian.com/world/2...-zero-corporate-tax-on-220bn-profit-last-year

 

[200sols]

I'd rather the bricks and mortar shops die tbh :_

They will die. This is about tax avoidance.

 

[mid_gen]

It's just a start, but good it's finally happening. Unless people actually seriously want to see a handful of foreign tech giants controlling everything.

if all the smaller, local businesses that actually have to pay tax go out of business, we'll be picking up the bill anyway.

 

[Reuben klang]

It’s not going to make a jot of difference.

unless they change the tax laws to be on the profit made in the specific country that they sell the goods.

They won’t do that because too many powerful people will lose money and stock prices will crash right off the announcement.

 

[BUDFORCE]

It doesn't matter what corporation tax rate is if companies deliberately arrange their businesses practices so they make no profit or make a loss

They've been doing this for years and it's really easy to do.

There are several ways actually, and all legal.

Don't forget though these companies do pay plenty of other taxes through staff wages etc.

 

[Pipe & Slippers]

Fine. We need to pay more tax one way or another

Without bricks and mortar there will be a massive shortfall in government income.

This 100%

 

[Terminal_Boy]

It’s not going to make a jot of difference.

unless they change the tax laws to be on the profit made in the specific country that they sell the goods.

They won’t do that because too many powerful people will lose money and stock prices will crash right off the announcement.

Exactly. These companies pay exactly the correct amount of tax in every country in which they operate. I know that Apple has in-region and in-country accountancy teams to ensure this.

 

[glenimp617]

I'd rather the bricks and mortar shops die tbh :_

some, not all